Bank Alfalah has decided to cease its operations in Afghanistan after receiving approval from the State Bank of Pakistan (SBP).
The bank had maintained a presence in Afghanistan for several years, offering commercial banking services across the country.
In a letter to the Pakistan Stock Exchange, Bank Alfalah confirmed its decision to close operations in Afghanistan.
The move comes after Ghazanfar Bank, one of Afghanistan’s leading financial institutions, expressed interest in acquiring Bank Alfalah’s local operations.
Both the State Bank of Pakistan and the Central Bank of Afghanistan have granted regulatory approval for the acquisition, allowing Ghazanfar Bank to proceed.
The Afghan government has also authorized Ghazanfar Bank to begin due diligence and other formal procedures related to the takeover.
The transition marks a significant change in the Afghan banking landscape, as Bank Alfalah withdraws from a market it has served for many years, while Ghazanfar Bank looks to expand its footprint through the acquisition.
