RASC News Agency: The Union of Turkish Participatory Banks has initiated a training program designed to educate Taliban officials on the foundational principles of Islamic banking. In a statement issued by the Taliban-controlled Central Bank of Afghanistan, it was revealed that the Union of Turkish Participatory Banks conducted a three-day training program aimed at familiarizing participants with Islamic banking principles and Sharia-compliant financial products. The Taliban have expressed their appreciation for Turkey’s efforts to enhance the financial expertise of their personnel.
The announcement, released on Saturday, December 28, emphasized that the program seeks to build capacity among the bank’s employees and ensure the full implementation of an Islamic banking system in Afghanistan. According to Siddiqullah Khalid, Deputy Governor of the Central Bank, “The Central Bank of Afghanistan has officially abolished interest-based transactions in the banking sector and is firmly committed to establishing a comprehensive Islamic banking framework.” He further explained that all banking operations in Afghanistan are now conducted in accordance with “Hanafi jurisprudence and without the involvement of interest.”
The Taliban leadership has repeatedly appealed to Islamic organizations and financial institutions worldwide to assist in implementing their vision of a fully Sharia-compliant banking system. They argue that the cornerstone of Islamic banking is the prohibition of “interest” or “usury,” practices they deem fundamentally incompatible with Islamic law. However, despite such initiatives, Afghanistan’s banking sector has yet to return to normalcy following the Taliban’s takeover. Financial institutions continue to face substantial operational challenges, leaving the economy in disarray. At the same time, the Afghanistani population is increasingly burdened by pervasive poverty and mounting unemployment, further compounding the nation’s economic crisis.
