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April 2015-
Issue#14
ABA E-Newsletter
Upcoming Events
Access to Finance Business
to Bank Roundtables in
Kabul/Other Provinces,
Afghanistan
ABA is Supported
By
ABA Conducted Access to Finance
Business to Bank Roundtable in
Badakhshan Province
Afghanistan Banks Association (ABA), with support from
USAID's “Financial Access for Investing in the Development
of Afghanistan” (FAIDA) project organized a two-day ABA-
Access to Finance Business to Bank Roundtable event in
Badakhshan province in April 6-7, 2015.
The roundtable targeted the enterprises operating in
Badakhshan Province by facilitating access to finance by
linking them with banks and Microfinance Institutions
(MFIs) in the area. The roundtable provided the enterprises
the opportunity to exchange viewpoints and identify
challenges and opportunities regarding their improving
productivity and access to finance. During the two day
event, representatives from the Afghan Government
Directorates of Economy and Women Affairs, representatives
from the Badakhshan Chamber of Commerce and Industries,
private sector (included traders, professions, producers
and handicraft business), the Central Bank (DAB), ABA
member banks and Microfinance Institutions (MFIs)
exchanged views and sought to undertake financing
transactions.
Objectives:
Contact us
To contribute
articles, submit ideas
or other inquiries,
please contact Edrees
Alimy at alimy.edrees@
aba.org.af.
Improve access to finance for enterprises doing
business in Badakhshan province through targeted
discussions and meetings between relevant
stakeholders
Link enterprises with the financial institutions.
DAB representative in Badakhshan, ABA member banks and MFIs
delivered presentations on their products and services.
Moreover, banks/MFIs had roundtable discussions with the
businessmen explaining their lending procedures, rates of
interest, credit appraisal and other issues concerned with
the banks’ loan facilities. From ABA, Mr. Edrees Alimy,
Research Associate participated in the event to represent
ABA. Mr. Alimy delivered a speech on ABA activities and
achievements; member banks products and services, the role
that ABA and its member banks play in the development of
Afghanistan’s financial sector, and the importance of
Access to Finance (A2F) Business to Bank (B2B) roundtables
in improvement and expansion of businesses. In the event,
the business community suggested that banks should expand
financing to Badakhshan province, especially in terms of
Islamic loans. They also recommended that banks must
conduct comprehensive research on need-based loans. As
result of the B2B round table discussions, seven (7)
potential loans with estimated worth of USD 430,000 were
discussed in agriculture and handicraft businesses.
Event: Access to Finance Business to Bank Roundtable,
Badakhshan
Venue: Qasere Kokcha, Badakhshan
Date: April 6-7, 2015
Photo by: Monitoring and Evaluation Field Monitor, FAIDA
ABA Meeting with DAB on Islamic
Banking Regulations and Products
On Wednesday, April 1, 2015 ABA management had meeting with
DAB officials on Islamic banking products and regulations.
The objective of the meeting was to inform member banks
regarding the upcoming Expert Review Session, which will
held on April 11, 2015 on Islamic banking regulations and
products. In the meeting, DAB requested ABA to inform
member banks with Islamic window to speed up review of
Islamic banking regulations and products and to share their
feedbacks and comments with ABA. Mr. Najibullah Amiri, ABA
Deputy Executive Director, suggested that, ABA will call
member banks to convey the message and will urge the
importance of an expert review session on products and
regulations of Islamic baking. It was requested from ABA,
to assist DAB in developing agenda for the session.
Furthermore, it was also agreed that for the expert review
session, sharia board members and Islamic banking officials
of ABA Member banks be invited.
ABA Meeting with Administrative Office
of the President
On April 7, 2015, ABA had meeting with Private Sector
Relation Department of the President office. Mr.
Shokrullah, Head of Private Sector Relation Department of
the Administrative Office of the President (AOP), mentioned
that the purpose of this department is:
a. Address of issues related to private sector
b. Building relationships
c. Supervision of the private sector
Below are problems and suggestions provided by the ABA
chairman:
A quarterly meeting should be held between H.E Mr.
President and head of commercial banks to discuss
the challenges faced by the financial industry.
Creation of different courts for banking sector, to
resolve disposal of collateral in quick manner.
The government does not give due attention to the
resolution of banking issues. .
Regulatory capital currency conversion and its
ramifications for banks.
Banking law should be amended to meet current
banking environment.
The Supreme Council of DAB should meet regularly
with banks, in order to understand banks problems.
DAB should not only be the regulator, but also an
engine for financial sector development and should
make sure sound environment exists for the financial
industry to grow.
A proper capacity building program should be
organized and implemented for Financial Supervision
Department (FSD) at DAB to enhance the capacity of
FSD staff to professionally supervise banks.
Few examples were shared regarding creating of
provision for disposal of collateral.
Event: Meeting Event: Meeting with the Administrative Office
of the President
Venue: ABA Office, Conference Hall
Date: April 7, 2015
Photo by: Jamal Naser ABA IT/Web Designer
ABA Participation in Islamic Banking
Expert’s Council Session
On April, 11 2015, an Islamic Banking Expert Council
Session was held in Kabul at the initiative of Da
Afghanistan Bank and with the cooperation of the Harakat
organization. In addition to DAB officials (Mr. Khan Afzal
Hadawal Acting Governor, Mr. Matiullah Faieq General
Director, Financial Supervision), Mr. Ahmed Siar
Khoreishi, Chairman of Afghanistan Banks Association
(ABA), Mr. Abdul Majeed Jabarkhail, ABA Executive Director,
Mr. Naseem Akbar, CEO of Harakat, DAB’s Sharia supervisory
board, members of Islamic banking and Sharia board of
commercial banks, and officials of Amanie Advisors
participated the meeting.
H.E. Khan Afzal Hadawal, Acting Governor and First Deputy
Governor of DAB while speaking on Islamic banking services
mentioned that Afghanistan currently needs to provide
Islamic banking services and by this way the economic
growth will move upward. He added that the banking law is
all set now and he hopes that it will be passed by National
Assembly sooner (as opposed to later) to enable banks to
increase their range of Islamic banking services.
The main purpose of this meeting was to discuss and consult
on 23 draft regulations, Islamic banking Sharia products
and parameters in Afghanistan. The Islamic banking
department has so far drafted 46 regulations, products,
Sharia parameters and guidelines related to the Islamic
banking in Afghanistan which is yet to be approved by
Sharia supervisory board and the Supreme Council of Da
Afghanistan Bank. 23 out of 46 drafts are ones that
obligates country’s Islamic banks and Islamic banking
departments in commercial banks to conduct and provide all
Islamic banking services within the scope of these
regulations. The Central Bank’s Sharia Supervisory Board
debated on 27 out of 46 cases of drafts in its February
and March sessions and intends to mull over the rest 19
drafts in its upcoming 12th and 14th April meetings.
Taking into account the banks’ opinions and
recommendations, Da Afghanistan Bank will translate these
46 draft regulations into national official languages which
will be then followed by their approval and enforcement.
Approval of these 46 draft regulations, products, Sharia
parameters, guidelines and manuals would pave the way for
Islamic banking services like acceptance of client deposit,
providing of loans for investment, commerce, production
and banking services aimed at easing imports and exports,
residential loans and other loans.
At the session, a short meeting was held with Mr. Asad U.
Zafari, Senior Advisor to DAB Governor regarding property
appraisal. He agreed to meet ABA and USAID’s FAIDA to
assess how the Central Bank and ABA can work together in
this area.
Event: Islamic Banking Experts’ Council Session
Venue: Da Afghanistan Bank ( Central Bank of Afghanistan)
Date: April 11, 2015
Photo by: DAB Communication In charge
ABA Executive Director Participated in
Afghanistan -Pakistan Women Business
Conference
Mr. Abdul Majeed Jabarkhail, ABA’s Executive Director,
participated in the four-day Annual Afghanistan-Pakistan
Women Business Conference held April 20-23, 2015 in
Islamabad, Pakistan. The conference was jointly organized
by the Commercial Law Development Program (CLDP) of the US
Department of Commerce, in partnership with United States
Agency for International Development (USAID), US Embassy
in Islamabad, US-Pakistan Women’s Council and Governments
of Afghanistan and Pakistan.
The objective of the four-day conference was to strengthen
the competitiveness of Afghan and Pakistani business women
and to increase Afghanistan-Pakistan cross-border trade
and investment. In this event, ABA Executive Director
delivered a presentation on Financing Opportunities for
Afghan Business Women and took part in panel discussion.
Event: Afghanistan -Pakistan Women Business Conference
Venue: Marriot Hotel Islamabad, Pakistan
Date: April 20-23, 2015
Photo by: http://krg.com.pk/gallery/afghanistan-pakistan-
womens-business-conference/
ABA Meeting with Foreign Bank Branches
on Their Problems
On April 13, 2015, Mr. Abdul Majeed Jabarkhail, ABA’s
Executive Director, and Mr. Naveed Hadawal, ABA’s Member
Service Coordinator, had a meeting with Mr. Jalal Hussain
Banghash, the newly appointed country operations head of
Habib Bank Limited. The meeting was part of ABA efforts to
improve coordination between ABA and member banks and
further to pin point the issues of the member banks with
regards to the Laws and Regulations of Central Bank of
Afghanistan.
Mr. Banghash mentioned that ABA is a bridge between the
member banks and DAB. He admired the activities of the ABA
overall, and mentioned that with ABA is playing pivotal
role in solving member banks issue with DAB and other stake
holders.
Subsequently, on April 14, 2015, Mr. Jabarkhail, ABA’s
Executive Director, and Mr. Naveed Hadawal, ABA’s Member
Service Coordinator, had a meeting with Mr. Gohar Ali Shah
the newly appointed Country Manager of National Bank of
Pakistan (NBP), to provide an overview of ABA
activities. Mr. Jabarkhail mentioned that ABA will be
organizing the CBCG meeting next month and for that we will
be seeking from all ABA members, issues and problems to be
raised with DAB.
Mr. Gohar also discussed the current scenario of banking
in Afghanistan and mentioned that while there might be some
hurdles for banks, there are also plenty of opportunities
for the banks. On the same day, Mr. Jabarkhail and Mr.
Naveed Hadawal had a meeting with Mr. Sarfaraz Nazir, the
Country Head of Bank AlFalah Ltd and the Board Member of
ABA. Mr. Sarfaraz discussed about the future plans for ABA.
Mr. Sarfaraz mentioned that ABA is in its development stage
and there is a need to do lot more to improve it, although
ABA was efficient in some of the banking sector matters.
However, the members, expect more from ABA. Mr. Sarfaraz
mentioned that while ABA had a meeting with H.E Khan Afzal
Hadawal and he agreed on some matters of ABA member bank,
we still did not receive any thing in writing from DAB.
ABA Meeting with AJSSP
On April 20, 2015, ABA had meeting with Afghanistan Justice
Sector Support program (AJSSP) supporting Ministry of Women
Affairs (MOWA) in women economic empowerment. Mr.
Najibullah Amiri briefed the participants about ABA’s role
and activities. Mr. Abdullah Aziz AJSSP Project Management
Advisor also discussed about activities and support of the
AJSSP to MOWA. Mr. Aziz further mentioned that MOWA is
planning to organize an Access to Finance (A2F) event for
women economic empowerment, and since all banks are the
members of ABA, requested ABA to have a coordination
meeting with MOWA prior to A2F event and share ABA
experiences with MOWA in arranging such event.
Mr. Amiri mentioned that ABA will always support such
events and will invite the member banks to take part in
A2F event for business women. Mr. Amiri urged that it would
be great if MOWA allot time to ABA in agenda to presents
itself and its members. Mr. Azizi expressed agreement and
will soon arrange a coordination meeting between ABA and
MOWA.
Event: Meeting with JSSP on Access to Finance for Women
Venue: ABA Office
Date: April 20, 2015
Photo by: Mr. Jamal Naser ABA IT/Web Designer
Other News Highlights
ABA Releases its 12th Issue of E-Newsletter
On April 18, 2015 ABA released its 12th issue of E-
Newsletter to over 1,400 subscribers, including VIP and
VVIPs inside and outside of the country. The ABA’s E-
newsletter contained Access to Finance (A2F) Business to
Bank Roundtable in Mining Sector in Kabul, ABA and its
member banks meeting with US Department of the Treasury at
the US Embassy, ABA’s Member Banks Meeting with PAHNA Group
on Mortgage Regulation, Afghanistan Payment System (APS)
Coordination Meeting with DAB, ABA and Mobile Network
Operators (MNOs) meeting, ABA’s Participation in Women in
Business Conference in Kabul, and Afghanistan's Central
Bank signs MOU with UAE’s Central Bank. The following
chart depicts top locations by opens.
ABA Participation in Cooperation Agreement Signed
between Bank –e- Millie Afghan and Afghan National
Enterprise Board
On April 12, 2015, Bank-e-Millie Afghan (BMA) inked a
cooperation agreement with Afghan National Enterprise
Board at a conference held on this regard. The conference
was attended by Ahmad Zia Masoud, President’s Special
Representative for Reforms and Good Governance, H.E. Khan
Afzal Hadawal, First Deputy Governor and Acting Governor
and First Deputy Governor of DAB and Mr. Gul Maqsood Sabet
Deputy Ministry of Finance, Mr. Khanjan Alkozai Vice
Chairman, Afghan Chambers of Commerce and Industry (ACCI)
and national entrepreneurs.
According to this agreement, national traders can access
funds within short-term and long-term loans easily and
transparently from BMA which will further pave the ground
for investments along with productive occupations for
numerous of Afghans and can finally lead to economic growth
in the country.
H.E. Khan Afzal Hadawal, who also attended the conference,
laid emphasis on soundness of the banking system as saying,
presently, that Afghanistan’s banking system is fully
reliable and provides services in line with international
standards and there is no concern over outbreak of another
crisis like that of Kabul Bank.
Mr. Hadawal also added that now Afghanistan’s banking
sector has approximately AF 244 billion assets and once
this amount is invested or utilized by private sector it
could significantly bring growth to various economic
sectors.
Later on, Ahmed Zia Masoud, President’s Special
Representative for Reforms and Good Governance said that,
once the Cabinet Members are all introduced, Government
would initiate work on establishment of economic
infrastructure and a new economic stage would come to
existence.
At the end, Mr. Ahmed Khesraw Zia, Acting Chairman of BMA
while signing this agreement said that, it will provide
one to three year term loans for traders and private sector
with a 5% lower interest rate compared to market rate on
monthly basis.Resource
Event: Cooperation Agreement Signed between Bank Millie
Afghan and Afghan National Enterprise Board
Venue: Bank-e-Millie Afghan
Date: April 12, 2015
Photo by: Bank-e-Millie Afghan
Public Credit Registry Project Completion Seminar
On April 26, 2015, the DAB conducted a one day seminar on
Public Credit Registry (PCR) in Serena Hotel, Kabul. The
program was held with technical support from Harakat. The
speakers emphasized that PCR will enable potential
borrowers to have greater access to finance and increase
credit penetration in the country. During the seminar, DAB
Acting Governor Mr. H.E Khan Afzal Hadawal, Mr. Najibullah
Amiri, ABA’s Deputy Executive Director, Mr. Naseem Akbar,
CEO of Harakat, Mr. Ibrahim Shams Acting President of AISA
and Mr. Naser Ahmad Yousefzai Director General, PCR talked
about the importance of the project for the future.
Event: PCR Project Completion Workshop
Venue: Serena Hotel, Kabul
Date: April 26, 2015
Photo by:
https://www.facebook.com/PublicCreditRegistry/photos
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