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DAB Governor Discusses Economic Situation and Sanctions with UN Deputy Secretary General

KABUL (BNA): In a meeting held in Kabul, Mr. Hidayatullah Badri, the Acting Governor of Da Afghanistan Bank, engaged in discussions with Mrs. Rosemary DeCarlo, the Deputy Secretary General of the United Nations.

The primary focus of the meeting was to address the economic situation, financial stability, and the challenges faced by the banking sector in Afghanistan.

During the meeting, Mr. Badri provided a comprehensive overview of the current economic conditions in the country. He emphasized the achievements, challenges, and proposed solutions concerning the financial and banking sectors. One of the key issues highlighted by Mr. Badri was the adverse impact of international sanctions imposed on Afghanistan’s banking sector, which had severely affected the country’s financial stability and caused significant hardship for its people. These sanctions have impeded the access of Afghanistan’s banks to international financial and banking systems.

Mr. Badri acknowledged the efforts made by the Bank of Afghanistan to address liquidity problems within the banking sector despite the challenging circumstances. He expressed optimism about the ongoing progress and improvement in the situation.

Liberating Afghanistan’s banking sector from international sanctions was regarded by Mr. Badri as a fundamental human right and a demand shared by all Afghans.

He further emphasized the importance of developing financial services, particularly through the cooperation of international countries and financial institutions.

Da Afghanistan Bank has established a comprehensive and legal framework for the growth of microloans and financial services based on Islamic principles.

This framework aims to facilitate easy access to microloans and promote the growth of businesses under favorable conditions.

Mr. Badri underscored the significant role of micro-financing in economic growth, job creation, and various other areas, contributing positively to economic recovery and the realization of human rights.

The meeting also delved into discussions regarding the release of Afghanistan’s foreign exchange reserves. The freezing of these reserves was identified as a hindrance to the country’s economic growth and development.

Ms. Rosemary DeCarlo, the Deputy Secretary General of the United Nations, pledged to continue cooperating with Afghanistan in several key areas. This includes providing small loans, leveraging the expertise of international countries in Islamic financing, and strengthening the private sector. These areas were identified as crucial and requiring collaborative efforts.

The meeting was attended by Ms. Roza Otunbayeva, the Special Representative of the United Nations Secretary-General for Afghanistan, along with a delegation and commanders from various departments of the Bank of Afghanistan.

The discussions held during this meeting are expected to contribute to addressing the economic challenges faced by Afghanistan and foster international cooperation towards the country’s financial stability and development.

Bakhtar

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