DAB Acting governor meets with UN’ under-secretary general

May 19, 2024- Mr. Hedayatullah Badri, the acting governor of Da Afghanistan Bank, met with Rosemary DiCarlo, United Nations Under-secretary General in the main office of the DAB, discussing about the economic situation, financial and banking sectors.

During this meeting, the Acting Governor of DAB provided information regarding overall economic situation of the country and discussed the achievements, challenges and solutions of the financial and banking sector of the country in details.

The acting governor of Da Afghanistan bank stated that sanctions imposed on the Afghanistan’s banking sector by the international community has adversely affected the financial sector, incurring considerable damages to the people.

“The sanctions have led to the decreasing of peoples’ power of purchase and caused the Afghanistan’s banks to face challenge while accessing to international financial and banking system,” said the acting governor of DAB.

He stated that, although Afghanistan has been able to better manage the liquidity challenge of the banking sector in the challenging condition, and achieved significant developments in this regard which has caused the improving of situation by passing each day, the sanctions imposed by the international community leads the international transactions to occur through unofficial channels, which is in contradiction with Da Afghanistan bank’s laws, regulations and policies.

According to Badri, financial inclusion and access to finance is vital, requesting world community, especially financial and banking institutions to help Afghanistan in this field. He has further stated that, DAB has provided legal and regulatory framework for the development of granting microfinance so that the people can receive microfinances and develop their business.

Mr. Badri further said that providing microfinance can contribute to the community’s economic growth, creating job opportunities and other aspects, adding he expected the international agencies to pay serious attention in this sector and this way they should play a positive and effective role in the development of Afghanistan’s economic and ensuring the human rights.

It is noteworthy that during the meeting they discussed the unfreezing of the country’s currency reserves in details, stating that the freezing of Afghanistan’s currency reserves will cause damage to the country’s economy and development.

Afterward, Ms. Rosemary DiCarlo committed to the continuation of the UN’s cooperation with Afghanistan. Considering the role of banking sector important in the economic growth, DiCarlo stated that utilizing the experiences of other countries and supporting the private sector to develop the financial services, granting microfinance and Islamic financing is significant which need a joint cooperation.

It is worth mentioning, beside to the Rosemary DiCarlo UN’s Under-secretory General, the meeting was attended by Roza Otunbayeva, UN’ Secretary General’s special representative, and her accompanied delegations, and some director generals of DAB.