Afghan Biographies

Habib Bank HBL

Name Habib Bank HBL
Ethnic backgr.
Date of birth
Function/Grade Pakistan's lagest Bank (in Afghanistan)
History and Biodata

HBL has decided to end it's operations in Afghanistan . The exit from Afghanistan is expected to be completed latest by third quarter 2019 and will be done as per the regulatory requirements of Afghanistan and in consultation with the central bank of Afghanistan (Da Afghanistan Bank).

HBL opened its Kabul branch after obtaining business licence from Afghanistan Investment Support Agency in 2004. A public notice from the bank said that it will not accept any further deposits as of March 11, 2019. It called on all depositors to withdraw or transfer their funds on or before June 10, 2019.

The Central Bank of Afghanistan has cancelled the operating license of Pakistan’s Habib Bank Limited citing non-compliance of the bank with the banking laws of Afghanistan. The governor of Central Bank of Afghanistan Khalil Sediq said that the audits of Central Bank of Afghanistan revealed numerous violations committed by Habib Bank were observed during the past ten years. Sediq further added that the bank has also paid fines for the violations it had committed in the past ten years. According to Sediq, one of the violations committed by Habib Bank Limited was the non-compliance of the bank to change its capital in Afghanis despite the Central Bank of Afghanistan repeatedly issued warnings in the past 5 years.

However, he said the Habib Bank Limited has not only failed to contribute to economic development of Afghanistan but the bank has no given no loans to Afghan entrepreneurs.(20190401)



Last Modified 2019-04-01
Established 2019-04-01