DAB Held a Talk on Raising Awareness and Sharing Information for Strengthening Relations with Government Entities especially Educational Institutions

Thu, Sep 22 2022 12:17 PM
DAB Held a Talk on Raising Awareness and Sharing Information for Strengthening Relations with Government Entities especially Educational Institutions

September 21, 2022— Da Afghanistan Bank hosted a meeting with the Deputy Ministers of Education, Hajj and Religious Affairs and the Higher Education ministries for raising awareness concerning the promotion of Afghani currency, preserving the banknotes, condition of the banking sector and the illegal activities of FOREX. The meeting was chaired by the acting Governor of DAB, Mr. Abdul Qahir (Haji Idrees).

In his opening talks, Mr. Abdul Qahir (Haji Idrees) said “we’re honored to discuss today the important issues of the country. He added that due to uncertainties of the last decades the production capacity of Afghanistan experienced serious damages thereby changing Afghanistan into an importing country and increasing the use of foreign currency. The acting Governor of DAB said that supporting our national currency means supporting the purchase power of people and it’s necessary that all organizations, especially the academic institutions cooperate in this regard.

In his talks, Mr. Idrees referred to the illegal status of FOREX activities and provided comprehensive information on the banking sector. He added that Da Afghanistan Bank was able to effectively manage the banking sector in the face of challenging situations and requested the citizens to place their trust in the banking sector and cooperate in promoting the economy of the country.

Thereafter, the Director General of the Governor’s Office Department, Mr. Sediqullah Khalid presented information concerning the aforesaid issues and said that promoting of the Afghani currency in business transactions is the responsibility of all Afghans and a single institution cannot achieve this goal alone. According to him it’s required that different institutions cooperate in this regard and fulfill their national responsibility regarding the national currency.

Mr. Khalid added that it’s the responsibility of citizens to exercise caution while using the banknotes so that they don’t get damaged earlier than their expected lifespan and in order to prevent early wear and tear thereof, it’s important to raise awareness through different methods.

He also said that recently the activities of online FOREX have been witnessed in different areas of the country due to which many of our compatriots have faced problems putting at risk their money and capital. He added that the bank is making every effort in this regard, however, a joint effort is required to effectively manage this problem and we have gathered here today for this purpose and request your cooperation in this regard.

After that the Director General of Banking Supervision Department, Mr. Abdul Rahman Hanif informed the meeting participants of the current situation of the banking sector and said that the leadership of the Bank was able to effectively manage the banking sector in the last thirteen months achieving good results. He added that we have witnessed an increased coordination between Da Afghanistan Bank and the Ministry of Finance more than ever before and a joint committee has been established between the two institutions for the stability of banking and financial affairs.

Director General of Monetary Policy Department of DAB, Mr. Ahmad Jawad Saddad also provided insight into promotion of Afghani currency and price stability which is the primary goal of Da Afghanistan Bank and said that DAB tries to keep price stability in the country through different tools.

Thereafter, the Director General of Banking Operations Department of DAB, Mr. Abdul Wahid Jabarkhel provided comprehensive information on preserving the Afghani banknotes and preventing it from getting old earlier than its specific period of use. He said that Afghani banknotes have been printed with a high quality but lack of care by the people to preserve it, makes them old early.

It’s to mention that a presentation was delivered by the Deputy Director General of Non-banking Financial Institutions Department, Mr. Shah Pur Miyakhel about illegal activities of FOREX and deemed these activities harmful to people. He clarified that Da Afghanistan Bank has issued license to no person or institution in this regard.

The representatives of the abovementioned institutions placed much importance on the aforesaid issues and promised their cooperation in this regard. The participants reached an agreement on establishing a joint technical committee for further cooperation. It’s worth mentioning that apart from other important decisions made therein, the participants of the meeting reached a decision that if possible, the Ministry of Education shall include the basic banking and financial issues in the curriculum for increasing the financial literacy of the people in order to raise awareness concerning the promotion and preserving of the Afghani Banknotes.  

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