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 money handling operations in Afghanistan. The bank currently has 46 branches throughout the country, with five of these situated in Kabul, where the headquarters is also based.[3]
| Headquarters | Kabul |
|---|---|
| Established | 17 November 1939 |
| Ownership | 100% state ownership[1] |
| President | Abdul Qahir(Haji Edris) (acting) |
| Central bank of | Afghanistan |
| Currency | Afghan afghani AFN (ISO 4217) |
| Reserves | 9,400 million USD[2] |
| Website | www |
Da Afghanistan Bank is a wholly government-owned bank, established in 1939. DAB is active in developing policies to promote financial inclusion and a member of the Alliance for Financial Inclusion.[4] In May 2020, the bank launched a campaign to promote the use of Afghan currency instead of Iranian rials in the western provinces.[5]
Bank's seal
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
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.
- 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.[6]
Supreme Council
As of July 2021, the Supreme Council at DAB consisted of:[7][8]
- Ajmal Ahmady, Acting Governor and Acting Chairman of Supreme Council
- Dr. Shah Mohammad Mehrabi – Member
- Katrin Fakiri – Member
- Abdul Wakil Muntazer – Member
- Muhammad Naim Azimi – Member
The Supreme Council is currently unknown due to the collapse of the Islamic Republic of Afghanistan in August 2021.
Governors
- Habibullah Malie Achekzai, 1954–1960[9]
- Abdul Hay Azizi, 1960–1975[9]
- Mohammad Hakim Khan, 1975–1980[9]
- Ghulam Hussain Jujeni, 1980–1982[9]
- Mehrabuddin Paktiawal, 1982–1985[10][9]
- Abdul Basir Ranjbar, 1985–1988[9]
- Mohammad Kabir, 1988–1990[10][9][11]
- Khalil Sediq, 1990–1991[12][9][13]
- Abdul Wahab Asefi, ?–1991–?[10]
- Najibullah Sahu, ?–1992–?[14]
- Zabihullah Eltezam, ?–1993[15]
- Ghulam Mohammed Yailaqi, 1993[16]
- Mohammad Hakim Khan, 1993–1995[17][16]
- Ehsanullah Ehsan, during Taliban era, 1996–1997[18]
- Abdul Samad Sani, during Taliban era, 1997–?[19]
- Mohammad Ahmadi, during Taliban era, ?–2001[20]
- Anwar ul-Haq Ahady, 2002–2004[21][9]
- Noorullah Delwari, 2004–2007[21][9]
- Abdul Qadir Fitrat, 2007–2011[21]
- Noorullah Delwari, 2011–2014[21]
- Khan Afzal Hadawal, acting, 2014–2015[21]
- Khalil Sediq, 2015–2019[21]
- Wahidullah Nosher, acting, 2019–2019[21]
- Ajmal Ahmady, acting, 2019–2021[22]
- Haji Mohammad Idris, acting, during Taliban era, August 2021 – October 2021
- Shakir Jalali, acting, during Taliban era, October 2021 – present
Seizure of US-based assets
DAB owned about US$7 billion in assets held at the Federal Reserve Bank of New York. 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.[23] 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.[24][25] 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.[25]
See also
References
- ^ Weidner, Jan (2017). "The Organisation and Structure of Central Banks" (PDF). Katalog der Deutschen Nationalbibliothek.
- ^ "Taliban won't get access to Afghan reserves in US: official". www.thenews.com.pk. Peshawar: The News International. AFP. 17 August 2021. Retrieved 17 August 2021.
- ^ Da Afghanistan Bank. . Da Afghanistan Bank. Archived from the original on 11 April 2019. Retrieved 14 March 2016.
- ^ . AFI Global. 10 October 2011. Archived from the original on 20 February 2012. Retrieved 23 February 2012.
- ^ Ariana News (26 May 2020). "Central bank to run campaign promote Afghani in western provinces". Ariana News. Retrieved 6 June 2020.
- ^ (PDF). aisa.org.af. Archived from the original (PDF) on 19 August 2013.
- ^ "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.
- ^ 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" (January/February 1989). Central Intelligence Agency: 1. hdl:2027/uc1.c049297898 – via HathiTrust.
{{cite journal}}: Cite journal requires|journal=(help) - ^ Directorate of Intelligence (2003). "Chiefs of State and Cabinet Members of Foreign Governments" (September/October 1991). Central Intelligence Agency. hdl:2027/uc1.c110545539 – via HathiTrust.
{{cite journal}}: Cite journal requires|journal=(help) - ^ Directorate of Intelligence (1991). "Chiefs of State and Cabinet Members of Foreign Governments" (July/August 1991). Central Intelligence Agency. hdl:2027/osu.32435083449116 – via HathiTrust.
{{cite journal}}: Cite journal requires|journal=(help) - ^ Directorate of Intelligence (1992). "Chiefs of State and Cabinet Members of Foreign Governments" (1992May–Oct). Central Intelligence Agency. hdl:2027/osu.32435083449264 – via HathiTrust.
{{cite journal}}: Cite journal requires|journal=(help) - ^ Directorate of Intelligence (1994). "Chiefs of State and Cabinet Members of Foreign Governments" (May-Aug 1994). Central Intelligence Agency. hdl:2027/osu.32435083447946 – via HathiTrust.
{{cite journal}}: Cite journal requires|journal=(help) - ^ 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.
{{cite journal}}: Cite journal requires|journal=(help) - ^ 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.
{{cite web}}: CS1 maint: url-status (link) - ^ 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
- Da Afghanistan Bank
- Official YouTube channel
- @AFGCentralbank - Official Twitter account, active post-August 30, 2021