Mullah Hidayatullah Badri, the Governor of Da Afghanistan Bank (DAB), declared the complete Islamization of Afghanistan's banking and financial sector, prohibiting all interest transactions in the country.

Governor Badri made this significant proclamation during a conference in Bahrain, where he expressed his commitment to aligning the country's monetary policy and bank financing with the principles of Sharia. The event also provided a platform for him to seek insights and expertise from other Islamic countries and institutions.

At the core of DAB's commitment is the objective to adhere to Sharia principles in all financial transactions. Badri emphasized that banking funds should be strategically invested in projects fostering job creation, poverty reduction, socio-economic justice, and environmental improvement.

On the sidelines of the conference, Governor Badri engaged with representatives and diplomats from various international financial institutions and central banks of Islamic nations. During these interactions, he shared insights into the successful implementation of Islamic banking practices in Afghanistan.

The conference, titled 'Strategies for the Impending Economic Slowdown and a Post-Oil World: Through Economic Diversification and Leveraging Islamic Finance,' took place in Bahrain on November 29 and 30.

The move towards full Islamization reflects Afghanistan's commitment to aligning its financial practices with Islamic principles, marking a significant shift in the country's banking landscape. (ILKHA)