Business
: Pakistan’s prominent bank, Bank Alfalah, has completely withdrawn from Afghanistan after providing banking services there for two decades, ending all its business operations in the country.
Karachi: Pakistan’s prominent bank, Bank Alfalah, has completely withdrawn from Afghanistan after providing banking services there for two decades, ending all its business operations in the country. In a notice issued to the Pakistan Stock Exchange on Friday, the bank said the sale of its assets and business operations in Afghanistan was completed on November 5. According to the announcement, final agreements for the transaction were signed, and all other conditions were fulfilled, including obtaining the necessary approvals from the State Bank of Pakistan and Da Afghanistan Bank. The relevant authorities in both countries authorized Bank Alfalah to sell and transfer its banking operations in Afghanistan to Ghazanfar Bank. Bank Alfalah said its banking services in Afghanistan had now ended, while the closure of its branches in the country would be completed in accordance with the applicable regulatory procedures. It is worth noting that Bank Alfalah began its operations in Afghanistan in 2005, starting from Kabul, where it provided customers with both conventional and Islamic banking services.
