Financial Statements

In the Name of Allah, the Most Beneficent, the Most Merciful

ALL PRAISE BE TO ALLAH, THE LORD OF ALL THE WORLDS AND BLESSINGS ON PROPHET MUHAMMAD AND ALL HIS HOUSEHOLD AND ALL HIS COMPANIONS.

By the Grace of Almighty Allah, the year under review was the fourth year of Islamic Banking being operated by Afghanistan International Bank.

During the year, the Shariah Board (SB) held 14 meetings to review various products, policies, standard operating procedures, transactions, processes and their Shariah-compliance.

The Shariah Board appreciates the cooperation of ISB department and management for the expansion and implementation of Islamic Banking best practices and products according to Shariah rules, regulations, and resolutions issued by the Shariah Board of the Bank.

We are of the view that:

1. In our opinion, the affairs of the Islamic Banking Window have been carried out in accordance with the rules and principles of Shariah, in the light of Rulings, Fatwa, and the Guidelines issued by the Shariah Board.
2. During review, any matters requiring corrective measures have been noted and were resolved by the management or ensured to be rectified in future.Subject to the foregoing, in our opinion, the affairs of the Islamic Banking Window have been carried out in accordance with the rules and principles of Shariah, regulations and guidelines of Da Afghanistan Bank (DAB) related to Shariah compliance.
3. The Bank has a comprehensive mechanism in place to ensure Shariah compliance in its overall operations.
4. The allocation of funds, profit and loss distribution, and pool management are in accordance with Shariah principles.
5. The Shariah Board has been provided with resources enabling it to discharge its duties.

And Allah Subhana-hu-wa Taala knows the Best

Dated: February 24, 2019 |Hoot 05, 1397 HS