Internal Banks Dollar Accounts to Be Closed by German Commerce Bank

Afghanistan Central Bank on Saturday said that in two months all country’s internal banks’ dollar accounts will be closed by German Commerce Bank.

Central bank officials said that representatives of the Commerce Bank in a joint session with a number of Afghan Central Bank officials on Saturday has claimed that after the month of July 2013, the country’s dollar deals will not be performed by this bank.

Meanwhile, officials of the Private Union Banks raised concern over this decision of Commerce Bank and said that this decision will have negative impacts on Banks’ dealings.

However, it is said that lack of implementation of prohibition of money laundering law and also lack of necessary programmes for preventing of supporting of terrorism are the motives that Commerce Bank the biggest dealing mediator between Afghanistan and Pakistan wants to close all dollar accounts of Afghanistan’s banks, the central bank says that lack of professional capacity in Afghanistan’s banks and failure in Bank accounts from a number of country’s banks have caused that the Commerce Bank take the decision.

“Another reason that they submit is that they are under pressure by their American dealers, because every bank dealing that takes place should be cleared in the US.

On the other hand, it is said that officials of the German Commerce Bank, for arranging bank dealings to Europe and US has asked the officials of this bank to contract with other credible banks of the world but the officials of Union Private Bank considering the difficult condition of the world’s credible banks calls this solution impossible in the short term,” Noorlullah Dilawari head of Afghanistan Central Bank told TOLOnews.

“This measure is time consuming and it is impossible to make a connection with international credible banks in two or three months, On the other hand, a number of economic analysts call this immediate action of Commerce bank a pressure on country’s banking system and say that the government should disclose all motives of this problem,”

Khalil Sediq head of Afghanistan Union of Private Banks told TOLOnews.

“The president and his team should respond to us and clarify what the reason is that they were previously dealing with us and now we are under pressure,” Azarakhsh Hafezi head of international relations of Chambers of Commerce and Industries told TOLOnews.

German Commerce Bank is one of the credible banks of the world that has been facilitating bank dealings of Afghanistan’s banks to Europe and US in the last 11 years. According to banking analysts, with closing of dollar accounts of Afghanistan’s bank in this bank a major problem will be created but the central bank says that banks of the country should convince credible banks to solve their problem.

Tolonews

Tags: accounts, Bank, banks, be, by, closed, Commerce, Dollar, German, Internal, to

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