• publish: 13 July 2015
  • time: 3:28 pm
  • category: Economy
  • No: 257

Newly-appointed governor of Central Bank assumes office

The newly-appointed governor for the central bank of Afghanistan, Khalilullah Sediq, assumed his office after being formally introduced by President Ashraf Ghani on Monday.

Sediqi, who recently got a vote of confidence from the Parliament, promised to put an end to the Kabul Bank case.

Meanwhile, Ghani highlighted the importance of private banking and said the banking sector had a long and bright history in Afghanistan.

“Afghanistan was the first country to have a private bank before the state bank was established,” Ghani said.

He however once again criticized the Kabul Bank scandal and said the scheme had painted a bleak picture of Afghanistan.

Ghani, the former World Bank economist, said banking was the main pillar of economic development in a country.

“Economic growth is not possible without a transparent and trustworthy banking system,” he noted.

He called on the all private banks to help develop the country’s industries.

The central bank of Afghanistan – called Da Afghanistan Bank – had been running by the acting governor since the establishment of National Unity Government.

Sediq was former CEO of Afghanistan International Bank (AIB) since 2006. He has 30 years of banking experience and has worked with several banks in America and Afghanistan.

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