DAB Holds National Conference On Microfinance

DAB Holds National Conference On Microfinance

November13, 2024-Da Afghanistan Bank (DAB) held the National Conference on Microfinance, attended by representatives from national and international institutions, various countries' ambassadors, and media representatives.

The conference held at the Serena Hotel, Kabul, aimed to promote the development of the microfinance sector and foster coordination and cooperation between the private and public sectors as well as national and international institutions.

Expressing his gratitude and appreciation to the participants of the conference, the governor of Da Afghanistan Bank, Mr. Noor Ahmad Agha delivered a speech on the significance of microfinance, adding that microfinance plays a vital role in the creation of job opportunities, alleviating poverty, and empowering the community through providing facilitations to the individuals and small businesses to access financial resources.

He stated that microfinance fosters the growth of small businesses and local production on the one hand, and creates economic opportunities and income sources for people on the other hand.

The governor of Da Afghanistan Bank further added that microfinance is an effective tool for financial inclusion and contributes to positive changes in economic stability and the development of local businesses.

Addressing the significance of the microfinance sector in the country's economy, DAB's governor added that Da Afghanistan Bank has established a regulatory framework to organize and supervise the microfinance sector's performance.

Subsequently, The Deputy Prime Minister for Economic Affairs Mullah Abdul Ghani Beradar Akhund stated the significance of such a conference, in addition to expressing his gratitude and appreciation to the leadership of DAB for the application of appropriate strategies in effectively managing the banking sector, financial stability and maintaining the value of Afghani.

"Alleviating poverty, reducing unemployment, and creating job opportunities stands at the top priority of the Islamic Emirate of Afghanistan", said Mullah Abdul Ghani Beradar, adding since the public, farmers, people in need, and small business owners are among the beneficiaries of the microfinance sector, the Islamic Emirate and the international community share a common goal of assisting them through effective coordination, creating job opportunities for people through the sector.

In another part of his speech, Beradar stated that the government is committed to strengthening the sector and added that developing a regulatory framework for organizing and supervising the microfinance sector is an effective step toward the development of the sector.

During the conference, the Foreign Minister of Afghanistan, His Excellency Mawlawi Amir Khan Muttaqi, made a speech about the role and significance of foreign partners in the development of the microfinance sector.

Following this, the United Nations Special Representative for Afghanistan Ms. Roza Otunbayeva, discussed the role of microfinance in other countries, the collaboration of the international community, and the role of UN agencies in the microfinance sector in Afghanistan. Addressing the attendees, she stated that the international community and UN agencies are committed to cooperating with local agencies to develop the microfinance sector.

Ms. Otunbayeva added that the World Bank has planned a special program for implementing microfinance projects in Afghanistan, and the United Nations Refugee Agency (UNHCR) is committed to expanding its plan related to projects in the sector.

Subsequently, the Deputy Minister of Policy at the Ministry of Finance, Sultan Mohammad Zubair, addressed the audience on mobilizing government financial resources for the sector.

Furthermore, the Minister of Industry and Commerce, Alhaj Nooruddin Azizi, spoke about the role of corporations in various sectors to support the microfinance sector.

In another part of the conference, the first deputy of the Da Afghanistan Bank Mr. Sediqullah Khalid, delivered a detailed presentation regarding the opportunities and challenges of the microfinance sector in Afghanistan.

In addition to a session dedicated to granting licenses to eligible companies, the panels provided the opportunity, where experts, consultants, and representatives from ministries, private banks, and national and international organizations participated, discussing topics such as the involvement of companies, banks, and traders abroad in strengthening microfinance, the role of international institutions in boosting the sector, and the challenges and opportunities for the growth of the microfinance sector in the country.

At the end, Mr. Fida Mohammad Faizan, Director General of the Governor's Office Directorate at Da Afghanistan Bank, concluded the conference. He expressed his gratitude and appreciation for the participants' valuable contributions and constructive feedback, emphasizing that the National Microfinance Conference was highly beneficial for the development and growth of the sector. He added that the Da Afghanistan Bank will continue to make effective and continuous efforts to strengthen the microfinance sector.

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