Central Bank team visits Malaysia

KABUL (TOLOnews): A delegation from Afghanistan’s Central Bank departed for Malaysia to participate in the Global Forum of Islamic Economics and Finance.

Haseebullah Noori, the spokesperson for the Central Bank, said that representatives from central banks and financial institutions from various countries will attend the forum to discuss the development of Islamic banking, the strengthening of small and medium-sized enterprises, and the expansion of financial markets.

The Central Bank spokesperson said: “A delegation from the Central Bank traveled to Malaysia to attend the Global Forum of Islamic Economics and Finance. Representatives from various countries’ central banks, Islamic banks, and financial institutions will also participate in this forum.”

According to Haseebullah Noori, the delegation is also scheduled to meet with some Malaysian officials to establish bilateral relations.

Several economic experts believe that standardizing the banking system and developing Islamic banking is beneficial for the country in the current situation.

Shaker Yaqoubi, an economist, said: “The more our banking system in Afghanistan meets global standards, the better we can align with the global economy. Regulated trade and investment will take shape, and given that Afghanistan is an Islamic country, Islamic banking is a crucial need.”

The Chamber of Commerce and Investment stated that the challenges related to money transfers through banks should also be addressed during these meetings.

Mohammad Younis Momand, First Deputy of the Chamber of Commerce and Investment, said: “We hope the global community and the Central Bank’s proposals will address Afghanistan’s banking issues so that the problems we face with money transfers can be resolved.”

Abdul Nasir Rashtia, an economist, added: “The more we normalize our relations with the world and lift sanctions and restrictions, the better we can expand our international trade and provide more facilities for traders.”

Previously, the acting governor of the Central Bank, in a meeting with the Deputy Secretary-General of the United Nations, emphasized that the sanctions imposed on Afghanistan’s banking sector by international countries have negatively impacted the country’s financial stability and should be lifted.