Afghan Central Bank Bans Interest Transactions and Adopts Islamic Banking System

KABUL (BNA): The Governor of Da Afghanistan Bank (DAB), Mullah Hidayatullah Badri, announced that all interest transactions are forbidden in Afghanistan and that the country’s banking and financial sector has been fully Islamicized.

He made this statement at a conference in Bahrain, where he also expressed his intention to learn from the experience and expertise of other Islamic countries and institutions.

Badri said that DAB is committed to following the objectives of Sharia in its monetary policy and bank financing.

He said that banking funds should be invested in projects that create jobs, reduce poverty, ensure socio-economic justice, and improve the environment.

He also met with representatives and diplomats of several international financial institutions and central banks of Islamic countries on the sidelines of the conference and shared information about the implementation of Islamic banking in Afghanistan.

The conference titled ‘Strategies for the Impending Economic Slowdown and a Post Oil World: Through Economic Diversification and Leveraging Islamic Finance’ was convened in Bahrain on November 29 and 30.


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