Bank-e- Millie and New Kabul Bank to be Integrated

On September 5, 2020 a meeting was held about the integration of Bank-e- Millie Afghan and New Kabul Bank; the meeting was chaired by H.E. Abdul HadiArghandiwal, the Acting Finance Minister.

Ajmal Ahmadi, Acting Director of Da Afghanistan Bank, Mr. Ahmad JavidRasouli, Head of National Statistics and Information Authority of Afghanistan, Mr. Abdul Habib Zadran, Deputy Minister of Finance, presidents of Kabul Bank and Bank–e-Millie and a representative ofthe Administrative Office of The President attended the meeting.

Mr. Ahmadi briefed the participants on the status of these two banks, and said that the aim of integrating these two banks is to increase efficiency and to provide better services of state-owned banks to the people.

Mr. Rasouli said that based on a presidential decree, we have studied technical systems, identified the capacity and quality of these two banks, and prepared a short-term, mid-term, and long-term plan that integration measure are clear.

In the meeting, presidents of the two banks provided information about the current status and bank systems, and stated that they are ready to integrate the two banks.

The Acting Finance Minister said that integrating Bank-e-Millie and the New Kabul Bank has been based on the instruction of the President, and is one of the government’s commitments to the International Monetary Fund (IMF). He added that opinions of each department should be collected and sent to the Ministry of Finance to prepare a final plan and submit it to the President’s Office so that after receiving his opinion, the practical work begins.

On September 5, 2020 a meeting was held about the integration of Bank-e- Millie Afghan and New Kabul Bank