Afghanistan seeks stronger banking ties with U.S. business chamber

Da Afghanistan Bank, the country's central bank, has discussed expanding banking and trade relations with the Afghanistan–U.S. Joint Chamber of Commerce as the country seeks to strengthen financial services for traders and support private sector growth.

Sediqullah Khalid, First Deputy Governor of Da Afghanistan Bank, met Jeff Grieco, President of the Afghanistan–U.S. Joint Chamber of Commerce, at his office on Tuesday, 9 June, according to the central bank.

Focus on banking and trade development

The bank said the meeting focused on developing banking relations among commercial banks in Afghanistan, expanding trade, increasing investment opportunities and strengthening the banking sector.

Khalid said the central bank would continue working with local and international institutions to support Afghanistan’s private sector.

“Da Afghanistan Bank is committed to establishing a stable and strong banking system, as well as expanding constructive cooperation with all domestic and international institutions in order to support the private sector and promote trade,” he said, according to the statement.

He also linked banking development to the country’s wider economic recovery.

“Strengthening the banking sector and developing the private sector are among the most important foundations for the country’s economic progress and sustainable prosperity,” he added.

The meeting also discussed banking challenges faced by traders, electronic banking, international money transfers and improvements to financial services, Da Afghanistan Bank said.

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ACCI also discusses trade cooperation

Separately, the Afghanistan Chamber of Commerce and Investment (ACCI) said its chairman also met the chairman of the Afghan-American Chamber of Commerce to discuss expanding trade and investment cooperation.

The chamber said the talks covered promoting business partnerships and strengthening ties between Afghan and American private sector stakeholders.

Ongoing banking restrictions

Afghanistan’s banking sector has faced restrictions on international transactions since the political changes of August 2021, with traders repeatedly calling for easier access to money transfers and international banking services.

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News Economy Da Afghanistan Bank United States Afghanistan-US Joint Chamber of Commerce regional cooperation banking Finance