Bank of Afghanistan

Bank of Afghanistan

 

(Da Afghanistan Bank), the central bank of issue of Afghanistan. It was established May 25, 1940, as a joint-stock corporation. The capital of the bank, which was originally 120 million afghanis, reached 480 million afghanis in 1965. According to the charter, at least 75 percent of all shares of stock must belong to the state.

The Bank of Afghanistan exercises the monopoly right to issue money, regulate monetary circulation, provide the treasury with cash, and control foreign exchange operations. It serves as a credit, clearing, and reserve center for other Afghanistan banks, which have correspondent accounts with it, and provides financing on a large scale to trade and industry from its own funds and issues and from the funds it attracts. In the country itself, the bank has 28 branches (1968); it carries on financial relations with correspondent banks all over the world, including the Gosbank (State Bank) of the USSR and the Bank for Foreign Trade of the USSR. On Sept. 21. 1968. the bank’s balance total amounted to 29,704,200,000 afghanis. as compared to 3,704,000.000 afghanis on Mar. 21, 1958; credits amounted to 25,903,800,000 afghanis (including credits to the government totaling 18.615.200,000 afghanis); gold, silver, and foreign exchange reserves amounted to 2,505,900,000 afghanis, of which gold reserves constituted 1,720.500,000 afghanis; the issue of banknotes was 5,499,600,000 afghanis; and bank deposits totaled 20.918,100.000 afghanis.

V. A. DROZDOVA

References in periodicals archive ?
The house has approved Khalillah Sediq as the governor of Central Bank of Afghanistan, Da Afghanistan Bank.
The Central Bank of the UAE has signed a Memorandum of Understanding (MoU) with the Central Bank of Afghanistan on supervisory cooperation and exchange of information.
He was of instrumental support to us when we were facing one of the most difficult times in Central Bank of Afghanistan, and in the country as a whole, when dealing with the collapse of Kabul Bank," said a former colleague Shuja Rabbani, who worked at the Central Bank of Afghanistan.
The project was tendered by the World Bank on behalf of the Central Bank of Afghanistan.
Enhanced due diligence procedures for PEPs: Foreign: YES Domestic: YES KYC covered entities: Central Bank of Afghanistan (DAB), banks, registered money service businesses (MSBs), insurance companies, dealers in precious metals and stones, lawyers, accountants, securities dealers, and real estate agents
The Board also decided to close a case due to lack of incrementing evidences against the accused person Younus Khan Marwat, ex-CEO, Development Bank of Afghanistan (DBA).
The banking system has been created virtually from scratch and the Central Bank of Afghanistan or Da Afghanistan Bank (DAB), as it is better known, is at the forefront of the change, although the transformation has not been without its challenges.
Speaking and providing regulatory perspectives on strengthening the industry foundations at the inaugural keynote session of this year's conference will be Central Bank of Bahrain Governor Rasheed Al Maraj, Central Bank of Afghanistan governor Abdul Qadeer Fitrat and Islamic Corporation for the Development of the Private sector chief executive officer and general manager Khaled Mohammed Al Aboodi.
The Chairman of the Central Bank of Afghanistan, Abdul-Qadir Fitrat, on Sept.
The decision to unfreeze assets held by Afghan National Bank, Agriculture Development Bank of Afghanistan, Afghan Export Bank and Export Promotion Bank of Afghanistan follows a U.
The resolution provides for the unfreezing of funds for the Central Bank of Afghanistan and lifts a ban on the national airline Ariana so that it may resume international services.
The head of the central bank of Afghanistan has said that the scandal that involved Kabul Bank has been resolved.