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Afghan banks to remove from Banking Gray list: DAB

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AT-KABUL: Da Afghanistan Bank (DAB) on Saturday said that Afghanistan has addressed all the requirements has been set by the Financial Action Task Force (FATF) and it will be taken off the gray list of the organization within three months

“DAB has met all requirements of the FATF regarding money laundering and combating corruption,” said Governor of DAB Khalil Sediq.

He said that Afghan government also has exert utmost effort to seriously fight corruption and drug trafficking as well as bring drug traffickers before justice.

He stated that “considering all efforts hold by DAB and government of Afghanistan, it is more possible to the Afghanistan remove from gray list after FATF assessment in July or June month of current year.”

Although corruption not eliminated completely, but implementation of law is important for FATF, which Afghan government seriously hold steps to follow and implement laws across the country, he added.

Strict intention can be seen in the government regarding fight of corruption in the country, he noted.

He said that if the Afghanistan remove from the gray list, all Afghan banks will find the opportunity to deal with international banks globally and gain credibility.

Afghanistan name has been recorded in gray list due to the corruption, drug trafficking and money laundry issues were the main factors that Afghanistan name noted down to the gray list.

Although Afghanistan’s banks struggled best to consider the above mentioned issues during dealing, but despite struggle faced to such limitations, he mentioned.

Meanwhile Mr. Sediq said that high council of DAB report revealed that the central bank is situation is in a good condition.

He said that the report demonstrated that DAB balance sheet was very transparent and it show a stable economic growth.