Due to FATF, Afghan bank could not open a branch in Chabahar Port
The head of Iran-Afghanistan Joint Chamber of Commerce told Afghanistan’s Ghazanfar Bank could not open a branch in Chabahar Port, as a result of Iran being put on FATF's blacklist.
Speaking to ILNA news agency, the Iranian official Hossein Salimi said “A basic license has been issued for Ghazanfar bank to operate in Iran but for reasons such as the banking laws of the two countries and the fact that Iran is not a member of the FATF, Ghazanfar Bank could not have a branch in Iran.”
Ghazanfar Bank started off its operation from Kabul, Afghanistan, and is offering key financial services both under conventional and Islamic. Ghazanfar Bank, a full-fledged licensed commercial Bank, commenced its operations in March 2009. The Share Holders of the Bank belongs to one of the leading business groups of Afghanistan.
Referring to the decline in trade between Iran and Afghanistan, he said: "Iran exports $ 3.2 billion a year to Afghanistan, which this year will probably reach $ 2.9 billion due to coronavirus epidemic."
The Iranian official pointed to the impact of Chabahar port in increasing Iran-Afghanistan trade relations, and stated: "In previous years, this port was almost closed, but today some of the goods needed by Afghans are exported through this port.”
“We are currently witnessing an increase in China's trade with Afghanistan, and recently the Turks have entered the Afghan market.”
He confirmed that Iran has started investing in Afghanistan's mines; adding “Afghanistan has rich and pristine mines that can increase Afghan incomes by investing in these areas.”
Chabahar is considered a gateway to golden opportunities for trade by India, Iran and Afghanistan with Central Asian countries, besides ramping up three-way commerce in the wake of Pakistan denying transit access to India.
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