KABUL: The Central Bank of Afghanistan, the country’s state-owned bank, has said Afghanistan has addressed all the requirements of the Financial Action Task Force (FATF) and it will be taken off the gray list of the organization within a month.
By been taken off the list, Afghanistan’s financial system will gain credibility in the world and all banks in the country would be able to deal with international banks in other parts of the world, officials at the bank said. Countries on the gray list of the organization are faced with limitations in money dealings.
The Head of the money dealing reporting office of the bank, Nisar Ahmad Yusufzai, said it took five years to comply with the requirements and the bank is now waiting for the FATF assessments of the measures taken.
“Our banks have invested a lot on reforms. They continue their efforts to install electronic systems to complete the requirements,” Yusufzai said.
Meanwhile, members in National Banks Union said further measures should be applied by local banks to come off of the list.
“Our trade will improve and expand once Afghanistan is of the FTAF list. Our problems will be solved internationally. The local banks would be able to do deals with other countries in an easier way,” said Najibullah Amiri, head of the union.
