March 5, 2019 (MLN): The Central Bank of Afghanistan (Da Afghanistan Bank) has declined Azizi Bank’s application to acquire activities of Bank Alfalah (BAFL)’s off-shore business and assets in the country (“BAFL’s Afghanistan Ops”).  

Back in May 2018, BAFL decided to wind up its operation in Afghanistan following which the Board of Directors of the bank authorized the management to explore the possibility of selling BAFL’s Afghanistan Ops.

The bank also executed the business transfer agreement with Azizi Bank, Afghanistan in May, to sell BAFL’s Afghanistan Ops, subject to all corporate/regulatory approvals and execution of all necessary agreements/documents.

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