Sediqullah Khalid, the deputy governor of Da Afghanistan Bank, the central bank under Taliban control, has announced that all restrictions on withdrawing money from citizens' bank accounts will be lifted by the end of the current solar year.
Speaking at a press conference in Kabul on Sunday, October 25, Mr. Khalid stated that public confidence in the banking system has grown, leading to a five billion Afghani increase in bank deposits this year. He emphasized that with the improved liquidity situation, the central bank will be able to end all restrictions by the end of the year.
He also revealed plans to expand banking and financial services across the country, aiming to extend these services to all provinces, districts, and even major commercial centers in various cities. This move could significantly improve public access to financial services.
Furthermore, the deputy governor highlighted the development of "Islamic banking." According to him, six commercial banks in the country have met the requirements to operate as Islamic banks and will soon receive full licenses to function within this framework. This is part of the Taliban's oader effort to align the country's economic system with Islamic principles.
The banking restrictions were imposed after the Taliban's return to power in August 2021 to prevent the collapse of the banking system amid a severe liquidity crisis. Initially, customers were only allowed to withdraw $200 or 20,000 Afghanis per week from their accounts.
These limits were gradually eased in several stages. Currently, the withdrawal cap for individual accounts is 500,000 Afghanis per month, and for dollar accounts, it is $15,000 per month. The complete removal of these restrictions would be a major step toward normalizing the economic situation in Afghanistan.
Source: Da Afghanistan Bank
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