Afghanistan International Bank

Afghanistan International Bank

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Afghanistan International Bank (AIB) is a local commercial bank in Afghanistan
Afghanistan
Afghanistan , officially the Islamic Republic of Afghanistan, is a landlocked country located in the centre of Asia, forming South Asia, Central Asia and the Middle East. With a population of about 29 million, it has an area of , making it the 42nd most populous and 41st largest nation in the world...

, with its head office in Kabul
Kabul
Kabul , spelt Caubul in some classic literatures, is the capital and largest city of Afghanistan. It is also the capital of the Kabul Province, located in the eastern section of Afghanistan...

. The bank has seven branch offices in the major cities of the country.
AIB has international shareholders, two Afghan business groups, one Afghan/American business group and the Asian Development Bank
Asian Development Bank
The Asian Development Bank is a regional development bank established on 22 August 1966 to facilitate economic development of countries in Asia...

.

AIB operates primarily as a commercial wholesale bank and targets, among others, multilateral organizations, UN
United Nations
The United Nations is an international organization whose stated aims are facilitating cooperation in international law, international security, economic development, social progress, human rights, and achievement of world peace...

 entities, NGO
Non-governmental organization
A non-governmental organization is a legally constituted organization created by natural or legal persons that operates independently from any government. The term originated from the United Nations , and is normally used to refer to organizations that do not form part of the government and are...

s, embassies, foreign military forces, Afghan governmental institutions, foreign and domestic companies, to become their clients.

Opened in 2004, AIB is one of the first home-grown Afghan commercial banks to be set up in the last 23 years. The bank operates from AIB House, which is located in Wazir Akbar Khan district of Kabul City. Bank has its branches in Mazar-e-Sharif, Herat
Herat
Herāt is the capital of Herat province in Afghanistan. It is the third largest city of Afghanistan, with a population of about 397,456 as of 2006. It is situated in the valley of the Hari River, which flows from the mountains of central Afghanistan to the Karakum Desert in Turkmenistan...

, Kandhar
Kandhar
Kandhar is a town and a municipal council in Nanded district in the Indian state of Maharashtra. It lies near the western shore of Manyad Reservoir.-History:...

, Jalalabad
Jalalabad
Jalalabad , formerly called Adinapour, as documented by the 7th century Hsüan-tsang, is a city in eastern Afghanistan. Located at the junction of the Kabul River and Kunar River near the Laghman valley, Jalalabad is the capital of Nangarhar province. It is linked by approximately of highway with...

 and Kabul City.

Afghanistan International Bank was initially capitalised at US $10 million and has now grown to US $80 million. It aims to become a model bank in Afghanistan, established and managed in accordance with international best practice.

AIB evolved into a fully operational commercial bank, offering a broad range of products and services including access to ATM
Automated teller machine
An automated teller machine or automatic teller machine, also known as a Cashpoint , cash machine or sometimes a hole in the wall in British English, is a computerised telecommunications device that provides the clients of a financial institution with access to financial transactions in a public...

s and Internet banking for local and foreign customers.

The bank provide trade finance services, payment transfers and take deposits from small and medium sized enterprises. The bank also offers lending products for both foreign corporations and local small and medium sized enterprises.