BACKGROUND
Afghanistan is a country that has been in conflict for the last few decades..
INTRODUCTION
Maiwand Bank, focusing and serving the financial needs of private and public sector of Afghanistan.
VISION STATEMENT
To emerge as a financially sound, customer-centric, progressive, dynamic..
MISSION STATEMENT
Providing financial services of global standards, thereby bringing delight to the customers..
BOARD OF SUPERVISORS
The Board of Supervisors is selected by the Shareholders of the bank to conduct the..
Profile
Maiwand Bank, focusing and serving the financial needs of private and public sector of Afghanistan.
BACKGROUND
Afghanistan is a country that has been in conflict for the last few decades. The prolonged conflict in Afghanistan has resulted in large-scale deterioration particularly in the economic structure of the country. The new government has been taking lot of initiatives since the day it took charge, to bring the economy on track again. The efforts of the present day government have taken time to yield results mainly on account of the reduced inflow of funds from the donors. The large scale foreign fund inflows have reduced to a trickle and the same is getting reflected in the economic activity of the country. A sound banking system is the back bone for any country's economic progress.The same assumes even greater significance when a country has undergone such turbulence and there is an imminent need for,and to contribute in the economic restructuring process of the economic restructuring.The existing banking system prevailing in the country needs to be further strengthened by theadopting flexible banking laws and regulations.There is a need for the banking facilities to be spread across the country in order to the unbanked areas and sections of society under the banking umbrella.The traditional Hawala system (typical cash based system) of financial transactions prevailing in this country must be substituted by a strong and stable banking industry to enable all the financial transactions to pass through the normal banking channel this will help put a stop to unauthorized financial transactions.
INTRODUCTION
Maiwand Bank, focusing and serving the financial needs of private and public sector of Afghanistan. The bank is well aware of the urgent need for banking services and strongly believes that this sector is crucial for supporting the reconstruction of the country's economy and developmental efforts of the Government. Maiwand Bank, like the other members of the banking fraternity, contribute by providing quality banking services at nominal charges. Maiwand Bank is one of the largest, strongest and fastest growing Commercial Banks in Afghanistan. The bank was established & commenced Banking operation from 1st January, 2009. With in a short span of 7 years, the Bank has a Branch Net Work of 42 branches with deposits of USD 335 Million and advances of USD 150 Million. Further licenses for opening of more branches are under process. The bank has presence in 17 provinces and intends to mark its presence in all provinces in near future. Maiwand Bank, promoted by Afghan Nationals with strong capital base of AFN 1500 Million, aims to provide innovative products and services for the Afghan public. The Bank functions as a commercial banking institution in Afghanistan and acts as a strong catalyst for economic growth and business prosperity in the economic reconstruction process of Islamic Republic of Afghanistan. It strives to create a true partnership with the private and public sectors and to meet Afghanistan's financial services needs. Maiwand Bank, under guidance of professional promoters, supported by dedicated team of qualified, experienced international bankers, experienced in operating under sub-continental economic and social conditions, has been established as one of the strongest commercial banks of Afghanistan. Maiwand Bank is committed to expand its geographical coverage and offer its diversified products more effectively and efficiently to a larger section of the society. Correspondent banking relationship with reputable multinational commercial banks have been established in order to facilitate international payments and financial services. Capacity building of the local talent is an important focus area. Utilisation of the Afghan talent to the maximum extent possible, training programs for their further grooming and devising career paths for the promising local people shall ensure smooth transition of the bank’s management to them as it's operations grow.
VISION STATEMENT
To emerge as a financially sound, customer-centric, progressive, dynamic & technology driven Afghan bank with international operations, committed to manage the business with professionalism, transparency and trustworthiness, observing best practices and standards of corporate governance and social responsibilities.
MISSION STATEMENT
Providing financial services of global standards, thereby bringing delight to the customers, aspirational satisfaction to the staff and maximization of profits to the shareholders.
BOARD OF SUPERVISORS
The Board of Supervisors is selected by the Shareholders of the bank to conduct the banking business in a more prudent manner to protect the interest and enhance the Shareholder’s value with proper planning and controlling of the affairs of the bank. The Board of Supervisors for Maiwand Bank is as under and all are approved by Da Afghanistan Bank.
VARIOUS CHARGES ON BANK CUSTOMERS
| Mr. Ahmad Kawus Hazrati | Chairman of Board of Supervisors | Mr. Kawus is bachelor in economics having more than 15 years of experience in Managerial Positions, drafting of Policies, procedures, strategies and conducted research projects and surveys. He has also worked in the capacities of General Director of Risk Management Department in Da Afghanistan Bank (Central Bank). He has vast experience in Banking Operations, Credit Management & Financial Risk Management. He also has experience in Insurance sector. | Duly approved by Da Afghanistan Bank |
|---|---|---|---|
| Mr.S P Singh | Member of Board of Supervisors | An Accomplished Banker Worked for More than 36 Years in State Bank of India the largest Bank in various senior positions across verticals and geographies acquiring specialized skills in the areas of Banking Management. Training & Development, Audit& Risk Management. channels Administration. Internal Audit & Business Development. | Duly approved by Da Afghanistan Bank |
| MR. R.C. KHADANGA | Member of Board of Supervisors | Mr. Khadanga started his career in State Bank of India as probationary officer in 1984. During his service in SBI, handled assignments in General Banking, Credit, Operations, Audit & Compliance, Controller of Branches, HR & Training. He retired from SBI in 2016 as Assistant General Manager after serving the organisation for 32 years. He joined Maiwand Bank as member Board of Supervisors in 2020. He holds Master degree in Business Administration with specialization in financial management. He is also an Associate of Indian institute of Banking and Finance. | Duly approved by Da Afghanistan Bank |
EXECUTIVE MANAGEMENT TEAM
The Management Team of Maiwand Bank comprises of qualified and experienced banking professionals from the neighboring countries. The team is entrusted with the responsibility of management of the banking activities in strict compliance of the Banking and other laws under the guidance and supervision of the Board of Supervisors.
| Name of the Directors | Position | Brief Profile | Remarks |
|---|---|---|---|
| Mr. MUHAMMAD ABDUL BASIT | Chief Executive Officer | Mr. MUHAMMAD ABDUL BASIT is a Chartered Accountant from the Institute of Chartered Accountants of Pakistan (ICAP) and possesses over twenty years of vast and versatile practical experience in Commercial Banking, Finance and Assurance. He has also earned multiple certifications from USA, including The Institute of Internal Auditors (IIA - USA), The Information Systems Audit and Control Association (ISACA - USA) and The Professional Risk Managers International Association (APRM - USA). He is based in Afghanistan for the past twelve (12) years and truly understands the need of Afghan banking and corporate community. Mr. Basit specializes in commercial banking, financial reporting and analysis (IFRS/IPSAS), financial instruments, corporate finance and Information Systems Audits. He has spent considerable time working, advising and training in matters relating to IFRS and Fraud Risk Assessment, and delivered workshops for local and international corporations, banks and financial institutions including Da Afghanistan Bank. Major Banks where he has provided services include Azizi Bank, Islamic Bank of Afghanistan, Afghan United Bank, Bank-e-Millie Afghanistan, Maiwand Bank, Pashtany Bank, Arian Bank, First Microfinance Bank, Bank Alfalah, New Kabul Bank, MISFA and Mutahid Bank. Mr. Basit possess visionary leadership qualities and can lead the bank to next level. He also has experience of leading, practicing, directing and managing international Chartered Accountancy firms including working with USAID, UNDP, UNICEF, World Bank, GIZ and multiple other international organizations. He has also written several write-ups in the International Accounting Bulletin (IAB) and several other international well-reputed magazines highlighting different issues and subject matters related to banking and financial reporting and providing the recommendations as well in the local dynamics. |
Duly approved by Da Afghanistan Bank |
| Need to be updated | Chief Credit Officer | Need to be updated. | Need to be updated. |
| Mr. M.Shekib Wahidy | Chief Finance Officer | Mr. Shakib is a Chartered Certified Accountant finalist and obtained Bachelor`s degree in Finance, underwent various certified courses in IFRS/IAS, Accounting Standards & Banking trainings, Professional bankers having over 12 years of rich and varied experience since inception on Maiwand Bank in various fields like Operation, Credit, Finance & Accounts, Taxation, Treasury Management, Regulatory Reporting and Serving to Board of Management & Board of Directors. He has been working with Maiwand Bank since 2009 and elevated to the position of CFO in June 2019. | Duly approved by Da Afghanistan Bank |
| Name of the Directors | Position | Brief Profile | Remarks |
|---|---|---|---|
| Mr. Feroz Salim Ahmed Sayed | Chief Compliance Officer | Mr. Feroz Salim Ahmed Sayed, C.A.M.S, B.Com. is a qualified and accomplished professional banker having over 15 years of experience in the financial and banking sector, of which he has served in globally recognized ICICI Bank for more than seven years in various function of Indian and International Banking. He has varied experiences in Conventional Banking Operations, Reconciliation, International Remittances, Compliance, Regulatory Reporting. He also acquires a good knowledge in Internal Audit functions, Functional Review, Improvisation and Enhancement of IT Systems and Tools, Vigilance Investigation, Retail Banking, Branch Banking. In Addition to the Financial sector which Includes Banks, Money Transfer and FinTECH companies, Mr. Feroz Sayed has four years of experience in the Telecom Industry and has passed a Travel & Cargo Certification, IATA-FIATA from International Air Transport Association (IATA) Geneva- Switzerland. Mr. Feroz Sayed, has a specialized certification in the Compliance function as a Certified Anti Money Laundering Specialist from ACAMS-USA. | Duly approved by Da Afghanistan Bank |
AUDIT DEPARTMENT OF BANK
The bank had a full-fledged internal AUDIT system to ensure the compliance of the policies of the bank as well as the Banking laws of Afghanistan with international Audit standards.
| Name of the Executive | Position | Brief Profile | Remarks |
|---|---|---|---|
| Need to be updated | Chief Internal Auditor | Need to be updated. | Need to be updated. |
EXTERNAL AUDITORS
M/S MGI Worldwide Ilyas Saeed Chartered Accountants are our External Auditors. The firm is approved by Da Afghanistan Bank.
PRODUCTS & SERVICES
FOUNDING PRINCIPLES
OUR BUSINESS PRINCIPLES AND OPERATIONAL ETHICS
SPECIAL FEATURES-USP
TECHNO SAVVY BANK
The Maiwand Bank offers Any Where Banking through Core Banking Solutions. The Bank also provides Internet Banking and SMS Banking services for Corporate as well as individuals, thereby providing 24 hour, 365 days banking right from the PC/mobile of the user, offering world class banking services and account access anytime, anywhere, complete details of transactions, and statement of account, online information of deposits, loans overdraft account etc.
RISK MANAGEMENT
The bank has implemented all the tools for the risk management to mitigate the operational risk, credit risk and market risk. Bank has established the Asset Liability Management Committee to assess and measure the risk parameters of the banking operations by proper liquidity and fund management.
IT DEPARTMENT
Maiwand Bank established an independent IT department to cater to all the IT needs of the Bank viz networking and connectivity with strong IT professionals. The data of the bank is maintained at a central location with the connectivity to all the branches providing anywhere, anytime banking facilities to the clients in a more secured manner.
SWIFT FACILITY (MWBKAFKA)
Maiwand Bank, with SWIFT facility, is able to provide international remittance facilities. Maiwand Bank has been able to exchange the SWIFT exchange keys with international banks for the purpose of establishing Letters of Credit and other related products. We have built in AML compliance filtering software “En Safe Watch” installed in our SWIFT connectivity to ensure strict compliance of AML.
INDEPENDENT FUNCTIONAL DEPARTMENTS
WESTERN UNION
Maiwand Bank became the member of the Western Union agent community to provide Western Union branded money transfer services by fastest and safest manner. Maiwand Bank, with a clear Vision and Mission to become one of the strongest commercial bank, is planning to expand it's wings by spreading the network allover the Afghanistan in a phased manner. It is also committed to provide all the latest techno savvy products by leveraging the latest technological innovations to meet the present day challenges.
SUPERIOR SERVICE
Maiwand Bank differentiates itself from the competitors by offering diversified products and qualitative service to the general public of Afghanistan. In addition, Maiwand Bank offers diverse product lines, excellent customer service, and accessibility to the women community through special ladies branch.
MASTER CARD
Maiwand Bank has obtained Principal Membership from Master Card international. The bank provides Master Card facility to all its customers. The bank is presently providing only debit cards. It proposes to soon launch Prepaid Cards.
LOCATION OF HEAD OFFICE
Maiwand bank headquarters is strategically located at Turabaz khan Square, Share-e-naw, Kabul, Afghanistan, the most commercial part of Kabul, the capital city of Afghanistan. This provides a central location accessible from different parts of Kabul. And as per the Vision and Mission statement of the Bank, it is planning to open in most of the commercial areas of Kabul along with in all provincial capitals of the country to provide the banking services across the country.