DAB says technical agreements in place to print new bank notes

The country’s central bank – Da Afghanistan Bank (DAB) said Thursday they have reached agreements with a number of foreign countries and money printing facilities to print new bank notes for the country.

“We have collected and burned the old money, we have reached an agreement with the money printing offices and countries and we expect to proceed according to the plan and present you with the results, we are proceeding based on national interests; discussions have been held with countries and banks and they will help Afghanistan,” said Lutful Haq Noor Pasarlay, DAB’s policy deputy head.

Abdulqahar known as Haji Muhammad Edris, the acting head of De Afghanistan Bank, also spoke at the event and mapped out achievements made by the central bank in the past 12 months.

“Maintaining the stability of the value of the Afghani currency, maintaining the sustainability of commercial banks, providing banking services, facilitating cross-border transfers and developing new systems were some of the issues in the attention of Da Afghanistan Bank during the last year,” said Abdulqahar.

According to officials, in order to improve the banking sector and prevent criminal activities, the law to prevent terrorism financing, the regulation of preventive measures against money laundering, the management plan for the liquidity problem of the banking sector, the plan to revive the financial and banking sector, and the crisis management policy, have been drawn up and will soon be adopted.

The officials also said that in order to release Afghanistan’s foreign exchange reserves, several internal and external meetings have been organized with the relevant parties and discussions have been held on technical matters.

The last meeting of technical representatives of Afghanistan and the United States, for releasing Afghanistan’s frozen assets, was held in Tashkent, Uzbekistan.