Afghanistan Bank Urges Expansion of Digital Payments and Increased Bank Investment in Public Projects
Sediqullah Khalid, the First Deputy Governor of Afghanistan Bank, emphasized the need to expand electronic payment systems and gradually shift from cash to digital services during a meeting with the Union and heads of commercial banks.
The meeting also addressed enhancing the role of commercial banks in investing in public projects and simplifying banking procedures. Khalid stated that active participation of banks in infrastructure projects could help improve the economic situation and create job opportunities within the country.
The First Deputy Governor of Afghanistan Bank urged commercial banks to reduce their investments in foreign banking sectors and redirect their financial resources towards public projects inside Afghanistan.
This occurs while, since the Taliban’s takeover, Afghanistan’s banking sector has faced extensive restrictions, a decline in public trust, and difficulties for people accessing financial services. These issues pose serious challenges to efforts for digitalization and attracting investment without transparent reforms and guarantees of legal stability.
