ECO Trade And Development Bank Held 95th and 96th Meetings Of Its Board Of Directors

ECO Trade And Development Bank held 95th and 96th meetings of its Board of Director in the Istanbul city of Türkiye on September 29, 2022. The meeting was attended by the President and the board members of the ECO Bank from Iran, Pakistan, Afghanistan, Türkiye, Azerbaijan and Kirghizstan. Afghanistan was represented by the Director General of Monetary Policy Department of Da Afghanistan Bank and the board member of the ECO Bank Mr. Ahmad Jawad Sadad.

The minutes of the previous meeting were approved by the members of the Board of Directors. Thereafter, as per the agenda, the granting of loan to one of the Turkish companies as well as the loan ceiling to a number of financial/banking institutions of Türkiye were revised. Subsequently, the updated report of reimbursement of the ECO bank loans to a number of infrastructure projects of Iran was also presented.

Similarly, a number of policies and regulations of the bank including the human resources policy of the bank were discussed. In addition, insight was provided into encouraging four other countries (Uzbekistan, Tajikistan, Kazakhstan and Turkmenistan) to join this bank.

It’s worth-mentioning that ECO Trade And Development Bank was established for the purpose of creating, promoting and providing financial and credit facilities aimed at regional business development and accelerating economic growth of the member countries under the ECO organization. As a member of this bank, Afghanistan participates in its meetings on a regular basis.

Da Afghanistan Bank has remained committed to improving its relationships with international and regional financial organizations and playing an active role in creating better banking and financial facilities.