The Economic Commission of the Islamic Emirate made important decisions during a meeting chaired by Mullah Abdul Ghani Baradar, the economic deputy of the prime minister, regarding the strengthening of private banks in the country.
Publish dateTuesday 23 August 2022 - 08:50
Story Code : 257478
Afghan Voice Agency (AVA): Abdul Ghani Baradar, the first deputy prime minister of the Islamic Emirate, published a newsletter today saying that 13 important decisions were made at the meeting of the Economic Commission.
According to the newsletter, in the first and second parts of these decisions, the Supreme Court should establish a special court in order to quickly resolve the cases related to the loans of the public and private banks of Afghanistan. Afghanistan's courts should start issuing sharia deeds for real estates and the central bank should provide a mechanism for implementing Islamic loans to the economic commission.
It is also stated in the third and fourth sections: Afghan public and private banks should start the process of providing Islamic loans after the permission of the Shariah Board of central Bank, in the light of Islamic Shariah. And the Ministry of Foreign Affairs should try to open bank accounts in neighboring countries and other countries in the region by Afghan banks.
The fifth part of these resolutions emphasizes the effort of the Ministry of Foreign Affairs to reach an understanding with the countries for the possibility of transferring aid money to other private banks instead of a specific bank, and in the sixth part it is also said that the contribution of private banks in the implementation of government guarantees, tariffs and employee salaries Government to increase.
The meeting of the Economic Commission has also decided that the Central Bank should speed up the process of finalizing the administrative work of the Small Loans Bank and other financial institutions that have taken the necessary measures to start operating in the light of Islamic Sharia, and with the help of the Ministry of Finance, deposit to private banks.
In the following, it is emphasized that public and private banks and other related institutions should use the experiences of Islamic countries in order to promote Islamic banking in Afghanistan.
The other part of these decisions obliges the Ministry of Finance to identify all the major infrastructure projects, most of which have been completed and a small budget is needed to complete them, and to submit a report to the Economic Commission.
Recently, it has been stated that "under the leadership of the Ministry of Finance, the commission for receiving hard-to-obtain loans from banks should be reactivated and the necessary measures should be taken to receive these loans and permission should be given to start all construction projects in Afghanistan if there are no legal and religious obstacles."
According to the newsletter, in the first and second parts of these decisions, the Supreme Court should establish a special court in order to quickly resolve the cases related to the loans of the public and private banks of Afghanistan. Afghanistan's courts should start issuing sharia deeds for real estates and the central bank should provide a mechanism for implementing Islamic loans to the economic commission.
It is also stated in the third and fourth sections: Afghan public and private banks should start the process of providing Islamic loans after the permission of the Shariah Board of central Bank, in the light of Islamic Shariah. And the Ministry of Foreign Affairs should try to open bank accounts in neighboring countries and other countries in the region by Afghan banks.
The fifth part of these resolutions emphasizes the effort of the Ministry of Foreign Affairs to reach an understanding with the countries for the possibility of transferring aid money to other private banks instead of a specific bank, and in the sixth part it is also said that the contribution of private banks in the implementation of government guarantees, tariffs and employee salaries Government to increase.
The meeting of the Economic Commission has also decided that the Central Bank should speed up the process of finalizing the administrative work of the Small Loans Bank and other financial institutions that have taken the necessary measures to start operating in the light of Islamic Sharia, and with the help of the Ministry of Finance, deposit to private banks.
In the following, it is emphasized that public and private banks and other related institutions should use the experiences of Islamic countries in order to promote Islamic banking in Afghanistan.
The other part of these decisions obliges the Ministry of Finance to identify all the major infrastructure projects, most of which have been completed and a small budget is needed to complete them, and to submit a report to the Economic Commission.
Recently, it has been stated that "under the leadership of the Ministry of Finance, the commission for receiving hard-to-obtain loans from banks should be reactivated and the necessary measures should be taken to receive these loans and permission should be given to start all construction projects in Afghanistan if there are no legal and religious obstacles."
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