Islamic Bank of Afghanistan: Best Business Bank Afghanistan 2018
Empowering the Afghan business community and helping local entrepreneurs seize opportunity and expand trade, Islamic Bank of Afghanistan makes a significant contribution to the country’s economic development. From its earliest days the bank has served the Afghan private business sector with a full range of premier products and services, including cross-border transactions. Islamic Bank of Afghanistan is also recognised as a preferred partner to state bodies, multilateral organisations, diplomatic missions, and non-profit entities, amongst others.
The third-largest bank in the country with deposits totalling $210 million and a staff of more than 800 professionals, Islamic Bank of Afghanistan maintains a nationwide network of 62 branch offices. The bank is a subsidiary of Azizi Group – the country’s largest financial services provider and a corporation with a large regional footprint. As such, Islamic Bank of Afghanistan is able to structure and execute complex deals on behalf of its clients, spanning multiple jurisdictions.
The bank initiated and supports a number of corporate social responsibility programmes such as a sustained effort to reduce the number of unbanked people and businesses in the country. The bank’s comprehensive CSR portfolio also includes high-impact initiatives to promote gender equality and skills development. On the commercial side, Islamic Bank of Afghanistan introduced facilities to help fund the transition to renewable energy with an innovative credit line for solar power generators.
The CFI.co judging panel has followed the trajectory of Islamic Bank of Afghanistan for a number of years and agrees that the institution has been, and indeed continues to be, a foundational pillar of the exceptionally resilient Afghan business community. As such, the bank merits recognition for its considerable achievements. The judges are therefore pleased to name Islamic Bank of Afghanistan winner of the 2018 Best Business Bank Afghanistan Award.
