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Central Bank Calls Recent SIGAR Report Misleading

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The Central Bank on Saturday strongly rejected a U.S. Inspector General's report about a possible banking crisis and the central bank's inability to supervise Afghan commercial banks.

Central Bank Governor Noorullah Delawari said that the main context of the recent SIGAR report is about the decrease in technical support of the United States to the Afghan Central Bank, with unrealistic ending on possible banking crisis in Afghanistan along with inability of Central Bank to supervise the banks.

Officials of the Central bank have said that based on their studies, there is no threat of a banking crisis in Afghanistan.

"You must have read the report, this report is very dangerous but its context is complaining about American officials for not helping the Central Bank technically," Delawari said.

According to the Central Bank figures, at the moment 3.7 billion Afghanis of people's deposits are in the Afghan banking system. In addition, 67% of the commercial banks' incomes are with the Central Bank. In 2013, Afghan commercial banks had 650 million Afghani in profit.

"Based on our evaluations, currently our commercial banks are in a good condition, even their income is really good and we always supervise them," said Matiullah Faiq, General Manager of Supervision and Evaluation.

But in response to the recent SIGAR report, House of Representative members have said that the Central Bank of Afghanistan must be responsive to the concerns of people.

"We want peoples' representatives and House of Representatives to include the Central Bank Governor in their Agenda, to assure people of the current problems in the banking system and its solutions" said Farkhunda Zahra Naderi, member of the House of Representatives from Kabul.

Central bank officials have said that they perform three types of supervision on commercial banks, based on which they say commercial banks are in a good condition.


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