Da Afghanistan Bank
Da Afghanistan Bank (DAB, Pashto: د افغانستان بانک; Dari: بانک مرکزی افغانستان) is the central bank of Afghanistan. It regulates all banking and monetary transactions in Afghanistan.[6] Established in 1939, the bank is wholly government-owned. It is active in developing policies to promote financial inclusion and a member of the Alliance for Financial Inclusion.[7]
| Headquarters | Kabul |
|---|---|
| Established | 17 November 1939 |
| Ownership | 100% state ownership[1] |
| Governor | Hidayatullah Badri (acting)[2] |
| Central bank of | Afghanistan |
| Currency | Afghan afghani AFN (ISO 4217) |
| Reserves | $9.5 billion[3][4][5] |
| Website | www |
Da Afghanistan Bank currently has around 52 branches throughout the country, with seven of these situated in Kabul, where the headquarters is also based.[8] As of August 2023, bank customers cannot withdraw more than $2,000 a month.[9]
Seal of the bank edit
The seal of Da Afghanistan Bank has the name of the bank in Pashto at the top and Latin script at the bottom, the year 1939 in which it was established, and a depiction of a Eucratides I-era coin with the Greek text, "ΒΑΣΙΛΕΩΣ ΜΕΓΑΛΟΥ ΕΥΚΡΑΤΙΔΟΥ" which means "Of the great king Eucratides".
Mission edit
Basic tasks of DAB are:
- Formulate, adopt and execute the monetary policy of Afghanistan.
- Hold and manage the official foreign-exchange reserves of Afghanistan.
- Print and issue afghani banknotes and coins.[10]
- Act as banker and adviser to, and as fiscal agent of the state.
- License, regulate and supervise banks, foreign exchange dealers, money service providers, payment system operators, securities service providers, securities transfer system operators.
- Establish, maintain and promote sound and efficient systems for payments, for transfers of securities issued by the state or DAB, and for the clearing and settlement of payment transactions and transactions in such securities.
- Accept foreign bank applications from banks that wish to operate in Afghanistan.[11]
Chief of the bank edit
- Habibullah Malie Achekzai, 1954–1960[12]
- Abdul Hay Azizi, 1960–1975[12]
- Mohammad Hakim Khan, 1975–1980[12]
- Ghulam Hussain Jujeni, 1980–1982[12]
- Mehrabuddin Paktiawal, 1982–1985[13][12]
- Abdul Basir Ranjbar, 1985–1988[12]
- Mohammad Kabir, 1988–1990[13][12][14]
- Khalil Sediq, 1990–1991[15][12][16]
- Abdul Wahab Asefi, ?–1991–?[13]
- Najibullah Sahu, ?–1992–?[17]
- Zabihullah Eltezam, ?–1993[18]
- Ghulam Mohammed Yailaqi, 1993[19]
- Mohammad Hakim Khan, 1993–1995[20][19]
- Ehsanullah Ehsan, during Taliban era, 1996–1997[21]
- Abdul Samad Sani, during Taliban era, 1997–?[22]
- Mohammad Ahmadi, during Taliban era, ?–2001[23]
- Anwar ul-Haq Ahady, 2002–2004[24][12]
- Noorullah Delwari, 2004–2007[24][12]
- Abdul Qadir Fitrat, 2007–2011[24]
- Noorullah Delwari, 2011–2014[24]
- Khan Afzal Hadawal, acting, 2014–2015[24]
- Khalil Sediq, 2015–2019[24]
- Wahidullah Nosher, acting, 2019–2019[24]
- Ajmal Ahmady, acting, 2019 – August 2021[25]
- Haji Mohammad Idris, acting, August 2021 – October 2021
- Shakir Jalali, acting, October 2021 – March 2023
- Hidayatullah Badri, acting, March 2023 – present[26][27][2]
Members of the Supreme Council edit
In July 2021, the Supreme Council at DAB consisted of:[28][29]
- Ajmal Ahmady
- Dr. Shah Mohammad Mehrabi[30]
- Katrin Fakiri
- Abdul Wakil Muntazer
- Muhammad Naim Azimi
The Supreme Council is currently unknown due to the collapse of the Islamic Republic of Afghanistan in August 2021.
Seizure of US-based assets edit
DAB owned about US$7 billion in assets held at the Federal Reserve Bank of New York.[31] After the 2021 Taliban seizure of power, a group of about 150 relatives of victims of the September 11 attacks attempted to use a judgement from the SDNY case Havlish v. Bin Laden to gain control of these assets, asserting that they were now legally the Taliban's and thus could be used to pay damages to 9/11 victims' families.[32] After a period of deliberation, the Biden administration went along with the request, dividing the assets into two halves, one of which would be allocated to the plaintiffs as potential damages, and the other which would be used to set up a trust fund to "support the needs of the Afghan people" but which the Taliban government would remain barred from accessing.[33][34] On 26 August 2022, a judge recommended to not award damages as the bank is "immune from jurisdiction" and that it would "acknowledge" the Taliban as the legitimate Afghan government.[34]
See also edit
References edit
- ^ Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
- ^ a b "Central bank chief Badri wounded in traffic accident". 2 September 2023. Retrieved 2 September 2023.
- ^ "The US and Taliban are negotiating the release of part of the $9.5 billion in frozen Afghan government assets, report says". Business Insider. 26 July 2022. Retrieved 9 August 2023.
- ^ "US freezes Afghan central bank's assets of $9.5bn". Al Jazeera. 18 August 2021. Retrieved 9 August 2023.
- ^ "U.S. Freezes Nearly $9.5 Billion Afghanistan Central Bank Assets". Bloomberg News. 17 August 2021. Retrieved 9 August 2023.
- ^ "DAB officials: Inflation rate falls, afghani's value increases". Pajhwok Afghan News. 9 August 2023. Retrieved 10 August 2023.
- ^ "AFI members". AFI Global. 18 June 2019. Retrieved 9 August 2023.
- ^ "Zones and Branches". Da Afghanistan Bank. Retrieved 9 August 2023.
- ^ "Afghani strengthens by 4.4% against US dollar: central bank". Ariana News. 9 August 2023. Retrieved 9 August 2023.
- ^ "Central Bank Says Inflation Has Been Managed Over Past Year". TOLOnews. 9 August 2023. Retrieved 10 August 2023.
- ^ (PDF). aisa.org.af. Archived from the original (PDF) on 19 August 2013.
- ^ a b c d e f g h i j "DAB History". Da Afghanistan Bank.
- ^ a b c Central Banking Directory. Central Banking Publications. 18 April 1993. ISBN 978-0-9517903-1-1 – via Google Books.
- ^ Directorate of Intelligence (1989). Chiefs of State and Cabinet Members of Foreign Governments. Central Intelligence Agency. p. 1. hdl:2027/uc1.c049297898 – via HathiTrust.
- ^ Directorate of Intelligence (2003). Chiefs of State and Cabinet Members of Foreign Governments. Central Intelligence Agency. hdl:2027/uc1.c110545539 – via HathiTrust.
- ^ Directorate of Intelligence (1991). Chiefs of State and Cabinet Members of Foreign Governments. Central Intelligence Agency. hdl:2027/osu.32435083449116 – via HathiTrust.
- ^ Directorate of Intelligence (1992). Chiefs of State and Cabinet Members of Foreign Governments. Central Intelligence Agency. hdl:2027/osu.32435083449264 – via HathiTrust.
- ^ Directorate of Intelligence (1994). Chiefs of State and Cabinet Members of Foreign Governments. Central Intelligence Agency. hdl:2027/osu.32435083447946 – via HathiTrust.
- ^ a b Fitrat, Abdul Qadeer (7 March 2018). The Tragedy of Kabul Bank. Page Publishing Inc. ISBN 978-1-64027-368-9 – via Google Books.
- ^ Chiefs of State and Cabinet members of foreign governments / National Foreign Assessment Center. 1995 no.1-4. 1995. hdl:2027/msu.31293012852699 – via HathiTrust.
- ^ Linschoten, Alex Strick van; Kuehn, Felix (23 August 2012). An Enemy We Created: The Myth of the Taliban-Al Qaeda Merger in Afghanistan. Oxford University Press. ISBN 978-0-19-997723-9.
- ^ Gannon, Kathy (12 November 2018). "Pakistan frees 2 Taliban members as US envoy visits region". Associated Press. Retrieved 15 July 2022.
- ^ "Consolidated TEXT: 32011R0753 — EN — 10.03.2017". eur-lex.europa.eu.
- ^ a b c d e f g "Nosher, Wahidullah". Who is who in Afghanistan?.
- ^ "Finland Ministry of Foreign Affairs". 2018 Geneva Conference Side Event: Economic priorities and aid effectiveness. 28 November 2018.
- ^ "Mullah Badri named as Da Afghanistan Bank chief". 22 March 2023. Retrieved 2 September 2023.
- ^ "Afghani strengthens by 4.4% against US dollar: central bank". 9 August 2023. Retrieved 2 September 2023.
- ^ "Supreme Council | Da Afghanistan Bank". www.dab.gov.af. from the original on 17 May 2019. Retrieved 8 September 2021.
- ^ "DAB Supreme Council Holds Second meeting during the fiscal year 2021 | Da Afghanistan Bank". www.dab.gov.af. 4 July 2021. from the original on 26 July 2021. Retrieved 8 September 2021.
- ^ "Ultimate Goal is to Use Afghan Trust Fund to Recapitalize DAB: Mehrabi". TOLOnews. 23 July 2023. Retrieved 10 August 2023.
- ^ "Audit Fails to Win US Backing for Release of Afghan Central Bank Funds- US". TOLOnews. 21 July 2023. Retrieved 10 August 2023.
- ^ Savage, Charlie (2 December 2021). "More Sept. 11 Victims Who Sued the Taliban Want Frozen Afghan Funds". The New York Times.
- ^ Savage, Charlie (11 February 2022). "Spurning Demand by the Taliban, Biden Moves to Split $7 Billion in Frozen Afghan Funds". The New York Times.
- ^ a b Stempel, Jonathan (26 August 2022). "Sept. 11 victims not entitled to seize Afghan central bank assets -U.S. judge". Reuters. Retrieved 28 August 2022.
External links edit
- Official website
- Da Afghanistan Bank on Twitter