IMF helping DAB to improve financial systems

Tuesday, 09 January 2018 03:39 Written by  Heart of Asia Published in Economy Read 1080 times

Officials of the International Monetary Fund (IMF) said on Sunday they will provide advice and technical support to Da Afghanistan Bank (DAB) to ensure Afghanistan’s financial and banking systems are stable and effective. 


The IMF, in cooperation with other aid providers to Afghanistan, is working on plans to help Afghan people get access to loans and financial services. 

IMF enterprise owner, Moses Jonny, said Afghanistan has progressed well in improving the country's financial and banking in recent years. The IMF is trying to provide more technical support to the DAB to expand financial and banking services in the country. 

“The IMF provides advice on how to maintain a banking system that is stable and safe for the people’s deposits. In this context, overcoming the negative legacy of the Kabul Bank collapse in 2010, is a key element in Afghanistan’s programs supported by the IMF,” Jonny said. 

Meanwhile, DAB officials said IMF in the last few years has helped them a lot in improving financial and banking systems assisting Afghanistan to make great strides in this regard. 


“The IMF helps us a lot in training our employees and building capacity. In terms of bringing reforms to financial systems, IMF has helped us a lot,” DAB spokesman Aimal Hashor said. 

According to IMF officials, currently, the Afghan government and the World Bank are working on outlining a strategy of necessary reforms that will be brought about in three state-owned commercial banks. The IMF said it will provide support to the Afghan government in this respect as well.


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