Pakistan’s Bank Alfalah Exits Afghanistan After 20 Years

DID Press: Pakistan’s Bank Alfalah has fully withdrawn from Afghanistan after nearly two decades of operations, selling its assets and transferring its banking operations to Ghazanfar Bank.

In a notice to the Pakistan Stock Exchange on Friday, the bank announced that the transaction was finalised on November 5, following approval from the State Bank of Pakistan and Da Afghanistan Bank and the completion of all legal requirements.

According to the notice, Bank Alfalah has ceased its banking operations in Afghanistan and will close its branches in accordance with the relevant regulations.

Bank Alfalah began operating in Kabul in 2005, offering both conventional and Islamic banking services.