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Remarkable achievement of Afghanistan in getting access to credit, according to the World Bank Repor
KABUL, January 03, 2010 - In a press conference held in Da Afghanistan Bank’s conference hall, H.E. Abdul Qadir Fitrat, Governor of Da Afghanistan Bank stated: according to the World Bank “Doing Business Report 2010 Afghanistan” there are tremendous achievements H.E. Governor added: mainly, progress in the banking sector in Afghanistan has contributed significantly to the mentioned ranking. In addition, the report describes in the “Getting Credit in Afghanistan” section that Afghanistan is ranked 127 in 2010 compared to 180 in 2009. Subsequently, investors and entrepreneurs access to credit was one of the key criteria for starting up sound and effective business in Afghanistan. These efforts are strengthened with a new law on secured transactions that broadens the scope of assets that can be used as collateral. Separately, H.E. Governor talked about collection of defaced banknotes from the system and replacing them with new ones. Public should contact city branches of Da Afghanistan Bank and commercial banks for exchange of old banknotes with new ones. This process will be transparent and no fee will be charged for such exchanges. H.E. Governor mentioned that currently the banking sector is one of three successful sectors that play a key role in contributing to economic growth and development in Afghanistan. The banking sector has extended credit to more than 79,000 businesses and clients which amounts to USD 1.17 billion. This indicates 1865 percent increase from SY 1383. Central Bank is assured of the good services supply by financial institutions which will bring about economic prosperity and well-being to the people of Afghanistan.
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