KABUL – The Central Bank of Afghanistan has cancelled the operating licenseof Pakistan’s Habib Bank Limited citing non-compliance of the bank with thebanking laws of Afghanistan.
The governor of Central Bank of Afghanistan Khalil Sediq told Khaama Pressthat the audits of Central Bank of Afghanistan revealed numerous violationscommitted by Habib Bank were observed during the past ten years.
Sediq further added that the bank has also paid fines for the violations ithad committed in the past ten years.
According to Sediq, one of the violations committed by Habib Bank Limitedwas the non-compliance of the bank to change its capital in Afghanisdespite the Central Bank of Afghanistan repeatedly issued warnings in thepast 5 years.
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He said the Central Bank of Afghanistan issues operating licenses toforeign banks so that they can promote good banking in the country andcontribute in economic development of Afghanistan.
