Bank Alfalah, a major Pakistani commercial bank, has announced its departure from the Afghan market.
The bank is set to hand over its operations to the local Ghazanfar Bank following a strategic decision.
Regulatory bodies in both Pakistan and Afghanistan have granted initial approvals for the transaction.
This allows Ghazanfar Bank to commence the necessary due diligence to finalize the acquisition of the bank’s assets.
Experts view this move as a significant shift in the banking landscape.
Owned primarily by UAE investors, Bank Alfalah has operated in Afghanistan for years, but will now transfer its presence to a domestic entity.
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