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Regulation and Supervision of Banking in Afghanistan

Authority and Responsibilities

Da Afghanistan Bank has been granted the authority to regulate and supervise banks operating within the country. This includes issuing and revoking banking licenses and permits, which are essential for the operation of banks.

Key Provisions

• Banking Licenses and Permits: Banking licenses and permits are granted by Da Afghanistan Bank for an indefinite period and are not transferable.
• Application Process: Applications for banking licenses and permits must be submitted in writing to Da Afghanistan Bank, accompanied by required documents and fees.
• Background Checks: The bank is authorized to conduct financial, criminal, personal, and professional background checks on owners of qualifying holdings and administrators of banks applying for licenses.

Immunity from Suit

No person shall be liable in damages for any act or omission in the discharge or purported discharge of their functions under this Law while a member of the Supreme Council of Da Afghanistan Bank. This provision ensures that officials are not held accountable for actions taken in good faith during their tenure.