Da Afghanistan Bank
| File:Seal of Da Afghanistan Bank.png Seal of the bank | |
| Company type | Government-owned corporation |
|---|---|
| Industry | Central banking |
| Founded | 1939 |
| Headquarters | Kabul , Afghanistan |
Area served | Afghanistan |
| Owner | Government of Afghanistan |
| Website | www |
Da Afghanistan Bank (abbreviated as DAB, ; ) functions as the central banking institution of Afghanistan. It is responsible for regulating all banking operations and monetary activities within the nation.[1] Founded in 1939, the bank is entirely owned by the government and actively supports financial inclusion initiatives as part of its membership in the Alliance for Financial Inclusion.[2]
Da Afghanistan Bank maintains around 52 branches across the country, including seven located in Kabul, where its main office is situated.[3] Customers are permitted to withdraw a maximum of 350,000 afghanis (equivalent to $5,000 USD) per week or up to 1 million afghanis monthly.[4] Tax payments are made directly to the central bank, with regulations in place that prohibit officials from managing tax funds.[5]
Seal of the bank
The emblem of Da Afghanistan Bank displays its name written in Pashto at the upper section and in Latin script at the lower part. It also includes the founding year, 1939, alongside an illustration of a coin from the era of Eucratides I bearing Greek inscriptions translating to "Of the great king Eucratides."
Mission
The primary responsibilities of Da Afghanistan Bank encompass:
- Designing and executing Afghanistan’s monetary policy.
- Overseeing management of the nation’s official foreign-exchange reserves.
- Issuing currency notes and coins denominated in Afghan afghani.
- Acting as banker, advisor, and fiscal agent to the government.
- Granting licenses and supervising banks, foreign exchange businesses, money transfer services, payment system operators, securities service providers, and securities clearing systems.
- Enhancing payment infrastructures and securities transfer frameworks.
- Reviewing and processing applications from international banks seeking to establish operations within Afghanistan.
Chief of the bank
- Habibullah Malie Achekzai, 1954–1960
- Abdul Hay Azizi, 1960–1975
- Mohammad Hakim Khan, 1975–1980
- Ghulam Hussain Jujeni, 1980–1982
- Mehrabuddin Paktiawal, 1982–1985
- Abdul Basir Ranjbar, 1985–1988
- Mohammad Kabir, 1988–1990
- Khalil Sediq, 1990–1991
- Abdul Wahab Asefi, ?–1991–?
- Najibullah Sahu, ?–1992–?
- Zabihullah Eltezam, ?–1993
- Ghulam Mohammed Yailaqi, 1993
- Mohammad Hakim Khan, 1993–1995
- Ehsanullah Ehsan, during Taliban era, 1996–1997
- Abdul Samad Sani, during Taliban era, 1997–?
- Mohammad Ahmadi, during Taliban era, ?–2001
- Anwar ul-Haq Ahady, 2002–2004
- Noorullah Delwari, 2004–2007
- Abdul Qadir Fitrat, 2007–2011
- Noorullah Delwari, 2011–14 January 2015
- Khan Afzal Hadawal, acting, 14 January – 8 July 2015
- Khalil Sediq, 8 July 2015 – 2019
- Wahidullah Nosher, acting, 2019
- Ajmal Ahmady, acting, 2019 – August 2021
- Haji Mohammad Idris, acting, August 2021 – October 2021
- Shakir Jalali, acting, October 2021 – March 2023
- Hidayatullah Badri, acting, March 2023 – July 2024
- Noor Ahmad Agha, acting, July 2024 – present
Members of the Supreme Council
As of July 2021, the Supreme Council of the DAB comprised the following individuals:[6][7]
- Ajmal Ahmady
- Dr. Shah Mohammad Mehrabi[8]
- Katrin Fakiri
- Abdul Wakil Muntazer
- Muhammad Naim Azimi
Confiscation of US-held assets
The DAB maintained nearly US$7 billion in reserves at the Federal Reserve Bank of New York.[9] After the Taliban assumed control in 2021, families of 9/11 victims pursued legal claims over these funds through the Havlish v. Bin Laden case, arguing they should be allocated as compensation.[10] The Biden administration consented to divide the assets: half designated for plaintiffs as possible damages and the other half placed into a trust for humanitarian aid in Afghanistan, inaccessible to Taliban authorities.[11][12] Nevertheless, on 26 August 2022, a judicial decision declared the bank exempt from legal jurisdiction and refused to acknowledge the Taliban as Afghanistan's official government.[12] Subsequently, on 21 February 2023, Judge George Daniels blocked access to these funds, citing constitutional limitations.[13]
See also
- Afghan afghani
- Afghan frozen assets
- Economy of Afghanistan
- Ministry of Finance (Afghanistan)
- List of central banks
- New Kabul Bank
External links
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