Afghanistan International Bank
|Founded||March 31 ,2004|
Afghanistan International Bank AIB was founded in 2004 at the instigation of Asian Development Bank and supported by three prominent Afghan groups. AIB shareholders include: - Asian Development Bank (ADB), a multilateral development finance institution - Horizon Associates LLC, an investment company of the Mohib Group, a major commodities trader in the region - Wilton Holdings Ltd, part of the Rahmat Group, active in Pakistan and Afghanistan, focusing on the production of textiles, dry fruit processing, and trading operations.
The Bank has since established itself as a pioneer leader in Afghanistan’s banking sector. It has become the country’s most respected and trusted financial institution with capital in excess of $50 million and total assets of over US$800 million and a liquidity ratio of 88 %
Over the last 10 years, AIB has built an enduring institution that combines international expertise with local knowledge, giving the Bank a deep-rooted understanding of customers’ needs that is grounded in the highest international standards and best practices.
The shareholders’ major objective from the inception of the Bank has been to assist in developing the Afghan economy and to conduct business in accordance with international governance standards. The board of directors has nine members, five of whom are independent.
AIB has 35 branches, giving it a presence in all main business areas and comprehensive coverage across the country. AIB business units comprising Corporate, Retail, E-Banking (POS, ATM, Mobile Banking, Internet Banking), and Treasury.
The Bank offers a range of Retail Banking products and services, such as current accounts, savings accounts, term deposits, payroll services, debit/credit cards, payment services, and online banking.
AIB’s array of Corporate Banking services is tailor-made to meet the needs of customers in Afghanistan. These services include Cash Management, Trade Finance, Loans, Foreign Exchange, and Treasury.
Good corporate governance is an unwavering focus for AIB. As part of the Bank’s investment in strong governance, a sophisticated anti-money laundering (AML) transaction monitoring system is being implemented which is compliant with Wolfsberg Group requirements.
AIB’s strategy is to build a sustainable foundation based on prudent growth and risk management, while adhering to the highest level of corporate governance. In 2012 it acquired Standard Chartered Bank’s business in Afghanistan. In both 2012 and 2013 it was designated ‘Bank of the Year’ in Afghanistan by The Banker magazine and the Bank’s commitment to strong corporate governance earned the Best Corporate Governance Award, Afghanistan 2014, from Capital Finance International
AIB is banker to most leading Afghan Business Houses and to many international institutions including The United Nations, American And Nato Forces, The American Embassy, British Embassy, Royal Danish Embassy Asian Development Bank, World Bank, Nokia Siemens, Ericsson, United States Agency For International Development, Deutsche Gesellschaft For Technische Zusammenarbeit, Japan International Cooperation Agency, Danish Committee For Aid To Afghan Refugee, Korean International Cooperation Agency. AIB’s main correspondent banks are Standard Chartered Bank New York and Commerzbank Frankfurt Julius Baer Zurich and Emirates NBD manage AIB bond portfolios. The IFC provides a letter of credit guarantee facility.
AIB believes it holds the highest CAMEL rating (Capital adequacy, Asset quality, Management, Earnings, and Liquidity) among private Afghan banking institutions. AIB’s FATCA GIIN is OUL1A5.99999.SL.004