KABUL: Afghanistan's central bank plans to adopt an "Islamic financial system," a spokesman said.
According to reports, Sabir Momand, a spokeswoman for Da Afghanistan Bank (DAB), did not comment on the new system's details. "It will be a long process to adopt the Islamic banking system," he stated. "It is being implemented in many foreign nations, and it will be implemented gradually in Afghanistan as well."
Changes in the banking sector, according to analysts, will impede operations. "The implementation of an Islamic banking system will influence the economy before an evaluation of the banking system and markets," an economist, Seyar Masoud, said in a press briefing.
"Because many banks employ the current financial system, the transition to an Islamic banking system could generate complications." The Afghan banking system faced a catastrophic crisis after the Taliban took power last August, which was exacerbated by international sanctions that limited the transfer of funds overseas.
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