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Afghanistan under Taliban rule: Manager of one of the country's largest banks says the banking sector is on the verge of collapse

Afghanistan under Taliban rule: Manager of one of the country’s largest banks says the banking sector is on the verge of collapse

photo released, Deputy Kawthar / Agence France-Presse

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Afghan citizens wait in front of a bank in Kabul

The head of one of Afghanistan’s largest lenders has warned that the country’s banking sector is on the verge of collapse.

Speaking to the BBC, Syed Musa Kalim Al-Falahi, CEO of the Islamic Bank of Afghanistan, said the financial sector in Afghanistan was in the grip of an “existential crisis” due to the panic gripping customers.

“Huge withdrawals are happening right now,” he said from his temporary residence in Dubai due to the chaos in the Afghan capital, Kabul.

Al-Falahi said, “What happens in the banks is only withdrawals, and most banks (in Afghanistan) do not work and do not provide full banking services.”