Afghanistan’s banking system near collapse
- The Chief Executive of the Islamic Bank of Afghanistan Syed Moosa Kaleem Al-Falahi has said the country’s financial industry is in the grip of an existential crisis as customers have panicked.
- Mr Kabul,Al -Falahi said, only withdrawals are happening and most of the banks are not functioning.
- Afghanistan’s economy was already on shaky grounds even before the Taliban took control in August.
- According to the World Bank. It is hugely dependent on foreign aid ,about 40% of its gross domestic product (GDP) comes from international aid.