Afghanistan’s Central Bank granted a license to the Islamic Bank of Afghanistan (IBA), the first lender in the country to apply the interest-free principles of Islamic finance in all its operations, a senior bank official told Reuters.

The IBA was previously known as Bakhtar Bank and operated under a conventional banking license since it was acquired by Azizi Bank in 2009.

The central bank, Da Afghanistan Bank, granted the license on April 9 after the IBA completed the conversion of its balance sheet, said Faizan Ahmed, chief financial officer and member of the IBA management board.

The bank began converting its assets and deposits in January to adhere to religious principles that include bans on gambling, alcohol and interest-bearing debt.

In this episode host Zarmina Mohammadi discusses the topic with Muhibullah Sharifi, an Islamic banking adviser. 

In a separate discussion host Mohammadi discusses the production of 42 megawatts of electricity from Sheberghan gas resources with Ahmad Jawed Ghanizada, adviser to the ministry of energy and water. 

In addition, host Mohammadi discusses the move to attract private investment in various sectors with Sayam Pasarlai, spokesman for the ACCI.