Bank Alfalah ends banking operations in Afghanistan — Pajhwok

KABUL (Pajhwok): Pakistan’s Bank Alfalah has ended its banking operations in Afghanistan after more than two decades, transferring the assets and financial liabilities of its Kabul and Herat branches to Ghazanfar Bank. According to an official statement by Bank Alfalah, the transfer was finalised on November 5 after receiving approval from the central banks of Afghanistan and Pakistan and fulfilling all other legal requirements. The bank said it had ceased its banking operations in Afghanistan and would complete the remaining procedures for the formal closure of its Kabul and Herat branches in accordance with relevant regulations. Bank Alfalah began operations in Kabul in 2005 and later opened a branch in Herat. It provided both conventional and Islamic banking services.