Deputy PM for Economic Affairs Speech at the National Conference on Microfinance: Opportunities and Challenges

In the name of Allah, the Most Gracious, the Most Merciful.
 

Respected Ministers, distinguished representatives of the United Nations, representatives of various governmental institutions, the European Union, the World Bank, ambassadors of different countries, representatives of international and local institutions, media representatives, and all conference participants, I welcome you all and thank you for participating in this national conference on the microfinance sector.

First of all, I would like to express my gratitude to the leadership and officials of Da Afghanistan Bank for organizing this national conference regarding the promotion of investment and job creation in the microfinance sector. The efforts made by Da Afghanistan Bank, especially in the areas of improving the financial and banking sector’s management, ensuring financial stability, maintaining the value of the Afghan currency, and most recently, the creation of regulations for the monitoring and regulation of the microfinance sector, which will be shared with you in detail later, are commendable.

The microfinance sector is of great importance because it directly impacts the lives of ordinary and poor people. This sector supports farmers, ordinary people, and the impoverished by creating job opportunities for them, thus reducing poverty, unemployment, and social issues. As a result, it contributes to economic growth and strengthens the national economy.

Reducing poverty and unemployment and providing people with job opportunities is a responsibility and priority for the Islamic Emirate. Similarly, it is also the responsibility of the international community and wealthy Afghans to actively contribute to this area. As mentioned earlier, the beneficiaries of the microfinance sector are ordinary people, farmers, and small business owners, and empowering them is a common goal of both the Islamic Emirate and the international community. It is essential that we all fulfill our responsibilities and work together to create job opportunities for people through this sector.

Now, more than ever, there is an opportunity to assist ordinary people through the microfinance sector and help them find employment. This is because security has been established across the country, transparency exists, people are paying their financial obligations on time, no one's rights are being violated, and also, Da Afghanistan Bank has recently introduced regulations for the monitoring and regulation of this sector, which had not been done in the past twenty years.

By creating these regulations and holding this conference, the Islamic Emirate has demonstrated its commitment to strengthening the microfinance sector. We expect all stakeholders to work together with the Islamic Emirate to create job opportunities for people through this sector. In addition to the international community and donor agencies, wealthy Afghans, both within the country and abroad, should also stand alongside the Islamic Emirate in this effort. They can contribute by establishing microfinance institutions and helping the people of a specific province or region, as the newly established regulations now allow anyone to create a microfinance institution at the provincial level.

Moreover, ordinary people, farmers, and small business owners can now take advantage of this opportunity to start or expand their businesses. The regulation has made the conditions for obtaining financing easier, especially for people in remote areas and the poor, enabling them to access financing. This process will gradually be extended to all regions of the country.

In conclusion, once again, I call upon all concerned parties and donor organizations to assist farmers, small business owners, and ordinary people by supporting the microfinance sector, and contribute to the creation of job opportunities.

Allah’s mercy, peace and blessings be upon you!