Da Afghanistan Bank Explained

Native Name:	Pushto; Pashto: د افغانستان بانک بانک مرکزی افغانستان
Ownership:	100% state ownership^[1]
Established:	17 November 1939
Headquarters:	Kabul, Afghanistan
Executive:	Hidayatullah Badri (acting)
Executive Title:	Governor
Reserves:	$9.5 billion^[2] ^[3] ^[4]
Currency:	Afghani
Currency Iso:	AFN

(DAB, Pushto; Pashto: د افغانستان بانک; بانک مرکزی افغانستان) is the central bank of Afghanistan. It regulates all banking and monetary transactions in Afghanistan.^[5] 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.^[6]

Da Afghanistan Bank currently has around 52 branches throughout the country, with seven of these in Kabul, where its headquarters is also based.^[7] As of December 2023, individual bank customers cannot withdraw more than 70,000 afghanis ($1,000) a week.^{[8] [9] [10]}

Seal of the bank

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, "Greek, Ancient (to 1453);: 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.^[11]
• 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.^[12]

Chief of the bank

• Habibullah Malie Achekzai, 1954–1960^[13]
• Abdul Hay Azizi, 1960–1975
• Mohammad Hakim Khan, 1975–1980
• Ghulam Hussain Jujeni, 1980–1982
• Mehrabuddin Paktiawal, 1982–1985
• Abdul Basir Ranjbar, 1985–1988
• Mohammad Kabir, 1988–1990^[14]
• Khalil Sediq, 1990–1991^{[15] [16]}
• Abdul Wahab Asefi, ?–1991–?^[17]
• Najibullah Sahu, ?–1992–?^[18]
• Zabihullah Eltezam, ?–1993^[19]
• Ghulam Mohammed Yailaqi, 1993^[20]
• Mohammad Hakim Khan, 1993–1995^{[21] [20]}
• Ehsanullah Ehsan, during Taliban era, 1996–1997^[22]
• Abdul Samad Sani, during Taliban era, 1997–?^[23]
• Mohammad Ahmadi, during Taliban era, ?–2001^[24]
• Anwar ul-Haq Ahady, 2002–2004^[25]
• Noorullah Delwari, 2004–2007^[25]
• Abdul Qadir Fitrat, 2007–2011^[25]
• Noorullah Delwari, 2011–2014^[25]
• Khan Afzal Hadawal, acting, 2014–2015^[25]
• Khalil Sediq, 2015–2019^[25]
• Wahidullah Nosher, acting, 2019–2019^[25]
• Ajmal Ahmady, acting, 2019 – August 2021^[26]
• Haji Mohammad Idris, acting, August 2021 – October 2021
• Shakir Jalali, acting, October 2021 – March 2023
• Hidayatullah Badri, acting, March 2023 – present^{[27] [28] [29]}

Members of the Supreme Council

In July 2021, the Supreme Council at DAB consisted of:^{[30] [31]}

• Ajmal Ahmady
• Dr. Shah Mohammad Mehrabi^[32]
• 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

DAB owned about US$7 billion in assets held at the Federal Reserve Bank of New York.^[33] 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.^[34] 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.^{[35] [36]} 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.

See also

• Afghan afghani
• Afghan frozen assets
• Economy of Afghanistan
• Ministry of Finance (Afghanistan)
• List of central banks

External links

• Official website

Notes and References

1. Web site: Weidner . Jan . The Organisation and Structure of Central Banks . Katalog der Deutschen Nationalbibliothek . 2017 . PDF . 8 May 2020 . 28 May 2020 . https://web.archive.org/web/20200528003901/https://d-nb.info/1138787981/34 . live .
2. News: 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 . 2023-08-09.
3. News: US freezes Afghan central bank's assets of $9.5bn . Al Jazeera . 18 August 2021 . 2023-08-09 . 18 August 2021 . https://web.archive.org/web/20210818045840/https://www.aljazeera.com/economy/2021/8/18/us-freezes-afghan-central-banks-assets-of-9-5bn . live .
4. News: U.S. Freezes Nearly $9.5 Billion Afghanistan Central Bank Assets . Bloomberg News . 17 August 2021 . 2023-08-09.
5. News: DAB officials: Inflation rate falls, afghani's value increases . Pajhwok Afghan News . 9 August 2023 . 2023-08-10 . 1 June 2024 . https://web.archive.org/web/20240601104928/https://pajhwok.com/2023/08/09/dab-officials-inflation-rate-falls-afghanis-value-increases/ . live .
6. Web site: AFI members . 18 June 2019 . AFI Global . 2023-08-09 . 20 February 2012 . https://web.archive.org/web/20120220141606/http://www.afi-global.org/about-afi/members . live .
7. Web site: Zones and Branches . Da Afghanistan Bank . 2023-08-09 . 1 June 2024 . https://web.archive.org/web/20240601104931/https://www.dab.gov.af/zones-and-branches . live .
8. News: DAB increases withdrawal limit from bank accounts . Ariana News . November 30, 2023 . 2023-12-01 . 1 June 2024 . https://web.archive.org/web/20240601104928/https://www.ariananews.af/dab-increases-withdrawal-limit-from-bank-accounts/ . live .
9. News: Restrictions on cash withdrawal from banks further eased: DAB . Pajhwok Afghan News . November 30, 2023 . 2023-12-01.
10. News: Central Bank Raises Withdrawal Limits . TOLOnews . November 30, 2023 . 2023-12-01.
11. News: Central Bank Says Inflation Has Been Managed Over Past Year . TOLOnews . 9 August 2023 . 2023-08-10 . 1 June 2024 . https://web.archive.org/web/20240601104941/https://tolonews.com/business-184568 . live .
12. Web site: Licensing Procedure . aisa.org.af . https://web.archive.org/web/20130819180203/http://aisa.org.af/licensing_procedur/ForeignBankAgencyLicense.pdf . 19 August 2013 .
13. Web site: DAB History . Da Afghanistan Bank.
14. Book: Chiefs of State and Cabinet Members of Foreign Governments . Central Intelligence Agency . Directorate of Intelligence . January/February 1989 . 1989 . 1 . HathiTrust . 2027/uc1.c049297898 . 11 May 2020 . 1 June 2024 . https://web.archive.org/web/20240601104933/https://babel.hathitrust.org/cgi/pt?id=uc1.c049297898 . live .
15. Book: Chiefs of State and Cabinet Members of Foreign Governments . Central Intelligence Agency . Directorate of Intelligence . 2003 . September/October 1991 . HathiTrust . 2027/uc1.c110545539 . 3 May 2020 . 6 July 2020 . https://web.archive.org/web/20200706073044/https://babel.hathitrust.org/cgi/pt?id=uc1.c110545539 . live .
16. Book: Chiefs of State and Cabinet Members of Foreign Governments . Central Intelligence Agency . Directorate of Intelligence . July/August 1991 . 1991 . HathiTrust . 2027/osu.32435083449116 . 11 May 2020 . 21 December 2020 . https://web.archive.org/web/20201221023716/https://babel.hathitrust.org/cgi/pt?id=osu.32435083449116 . live .
17. Book: Central Banking Directory . 18 April 1993. Central Banking Publications . 978-0-9517903-1-1 . Google Books.
18. Book: Chiefs of State and Cabinet Members of Foreign Governments . Central Intelligence Agency . Directorate of Intelligence . 1992 May–Oct . 1992 . HathiTrust . 2027/osu.32435083449264 . 11 May 2020 . 27 November 2020 . https://web.archive.org/web/20201127163055/https://babel.hathitrust.org/cgi/pt?id=osu.32435083449264 . live .
19. Book: Chiefs of State and Cabinet Members of Foreign Governments . Central Intelligence Agency . Directorate of Intelligence . May-Aug 1994 . 1994 . HathiTrust . 2027/osu.32435083447946 . 11 May 2020 . 1 June 2024 . https://web.archive.org/web/20240601105444/https://babel.hathitrust.org/cgi/pt?id=osu.32435083447946 . live .
20. Book: Fitrat, Abdul Qadeer. The Tragedy of Kabul Bank. 7 March 2018. Page Publishing Inc. 978-1-64027-368-9. Google Books. 2 October 2020. 1 June 2024. https://web.archive.org/web/20240601105443/https://books.google.com/books?id=Cd9PDwAAQBAJ. live.
21. Book: Chiefs of State and Cabinet members of foreign governments / National Foreign Assessment Center. 1995 no.1-4. . 1995 . HathiTrust . 2027/msu.31293012852699 . 11 May 2020 . 1 June 2024 . https://web.archive.org/web/20240601105448/https://babel.hathitrust.org/cgi/pt?id=msu.31293012852699 . live .
22. Book: Linschoten . Alex Strick van . Kuehn . Felix . An Enemy We Created: The Myth of the Taliban-Al Qaeda Merger in Afghanistan . Oxford University Press . en . 23 August 2012 . 978-0-19-997723-9 . 3 May 2021 . 1 June 2024 . https://web.archive.org/web/20240601105445/https://books.google.com/books?id=PpqKLn7eugEC . live .
23. Web site: Gannon . Kathy . 12 November 2018 . Pakistan frees 2 Taliban members as US envoy visits region . 15 July 2022 . Associated Press . en.
24. Web site: Consolidated TEXT: 32011R0753 — EN — 10.03.2017 . eur-lex.europa.eu.
25. Web site: Nosher, Wahidullah . Who is who in Afghanistan? . 6 May 2020 . 1 June 2024 . https://web.archive.org/web/20240601105505/https://www.afghan-bios.info/index.php?option=com_afghanbios&id=3907&task=view&total=4276&start=2805&Itemid=2 . live .
26. Web site: 28 November 2018 . Finland Ministry of Foreign Affairs . 2018 Geneva Conference Side Event: Economic priorities and aid effectiveness . 30 May 2022 . 1 June 2024 . https://web.archive.org/web/20240601105948/https://um.fi/documents/35732/0/Sidevent+3%3B+Bios+%281%29.pdf/94e35577-3a2c-2e00-74f9-b13b91507936?t=1606130514646 . live .
27. News: Mullah Badri named as Da Afghanistan Bank chief . 22 March 2023 . 2023-09-02.
28. News: Afghani strengthens by 4.4% against US dollar: central bank . 9 August 2023 . 2023-09-02 . 9 August 2023 . https://web.archive.org/web/20230809204957/https://www.ariananews.af/afghani-strengthens-by-4-4-against-us-dollar-central-bank/ . live .
29. News: Central bank chief Badri wounded in traffic accident . 2 September 2023 . 2023-09-02 . 1 June 2024 . https://web.archive.org/web/20240601105952/https://pajhwok.com/2023/09/02/central-bank-chief-badri-wounded-in-traffic-accident/ . live .
30. Web site: Supreme Council Da Afghanistan Bank . www.dab.gov.af . 8 September 2021 . en . live. https://web.archive.org/web/20190517012634/http://dab.gov.af:80/index.php/supreme-council2 . 17 May 2019 .
31. Web site: DAB Supreme Council Holds Second meeting during the fiscal year 2021 Da Afghanistan Bank . www.dab.gov.af . 8 September 2021 . en . 4 July 2021 . live. https://web.archive.org/web/20210726011121/https://dab.gov.af/dab-supreme-council-holds-second-meeting-during-fiscal-year-2021 . 26 July 2021 .
32. News: Ultimate Goal is to Use Afghan Trust Fund to Recapitalize DAB: Mehrabi . TOLOnews . 23 July 2023 . 2023-08-10.
33. News: Audit Fails to Win US Backing for Release of Afghan Central Bank Funds- US . TOLOnews . 21 July 2023 . 2023-08-10.
34. News: More Sept. 11 Victims Who Sued the Taliban Want Frozen Afghan Funds . The New York Times . 2 December 2021 . Savage . Charlie.
35. News: Spurning Demand by the Taliban, Biden Moves to Split $7 Billion in Frozen Afghan Funds . The New York Times . 11 February 2022 . Savage . Charlie . 20 March 2022 . 7 April 2022 . https://web.archive.org/web/20220407213803/https://www.nytimes.com/2022/02/11/us/politics/taliban-afghanistan-911-families-frozen-funds.html . live .
36. News: Stempel . Jonathan . Sept. 11 victims not entitled to seize Afghan central bank assets -U.S. judge . 28 August 2022 . Reuters . 26 August 2022.