Annual Report 2020
Annual Report 2019

Director General of FinTRACA Welcomed Executive Director of Afghanistan Microfinance Association

Date:13th January, 2020

Place: Kabul, Afghanistan

Following the appointment of Mr. Salim Salah as the new Director General of FinTRACA, effective from 10th December 2019, a series of introductory meetings were held with reporting entities and relevant stakeholders of the Financial Transactions and Reports Analysis center of Afghanistan. Preceding these sessions, Mr. Salim Salah met with Mr. Mohammad Akbar Sarwari, the Executive Director of Afghanistan Microfinance Association (AMA), who was accompanied by Miss Zohra Saba, the public communication and information officer of AMA. The meeting was held at FinTRACA’s central office on 13th of January 2020.

First and foremost, MR. Sarwari forwarded gratitude to FinTRACA for arranging the meeting. He then proceeded to introduce the legal and administrative framework of AMA and enlightened the director general of FinTRACA regarding the recent developments of AMA. He also shed light upon the main activities of the AMA which included coordinating microfinance affairs under the AMA umbrella, striving to enhance the human resource capacity of the association, coordinating meetings of the heads of microfinance institutions operating in Afghanistan, arranging for quarterly meetings of microfinance committee, collection of quarterly reports and annual assessment of microfinance institutions. The Executive Director of AMA also discussed the existing challenges that hinder AMA proceedings and operations. He outlined the need for further cooperation and assistance between FinTRACA and AMA to overcome these challenges and enhance the operational prospects of AMA.

Subsequently, Mr. Salim Salah thanked the AMA leadership for attending the meeting and appreciated the efforts made by AMA to facilitate compliance with the AML/CFT regime in the microfinance sector. He added that Da Afghanistan Bank is considering incorporation of regulatory and supervisory related matters of microfinance institutions into its jurisdiction. This step would enhance and improve the legal and regulatory framework governing the AML/CFT regime in the microfinance sector.

Concluding the session, the director general of FinTRACA stressed upon the importance of the role played by AMA in enhancing the management of microfinance related affairs and reflected upon FinTRACA’s continuous and steadfast commitment to resolve the existing problems in the sector and help AMA overcome challenges and constraints.