 The bank already has a strong regional presence |
UK-based Standard Chartered is planning to be the first international bank to open its doors in Afghanistan. Standard Chartered has applied for a licence from the Central Bank of Afghanistan and hopes to open its first branch in Kabul.
The bank said it initially expects to offer a range of banking services including saving accounts in both US dollars and Afghanis, and money transfer services.
It may also offer a training programme for local banks.
A banking system is key to Afghanistan's economic recovery.
Risk assessment
Although the war-torn country has had many expressions of interest from foreign firms, few have actually carried through with an investment to date.
The bank reportedly spent two months weighing the risks and benefits of setting up shop in the country that is still politically volatile.
Standard Chartered already has a focus on developing economies and has a strong regional presence, including branches in Pakistan, Bangladesh, Sri Lanka and India.
The Kabul branch is expected to be opened within three months of receiving the government go-ahead, and could be by the end of the summer.
One-Minute World News 
News services
E-mail this to a friend 
Printable version 
