AKU, Azerbaijan, July 9. Kazakhstan and
Afghanistan have discussed expanding banking cooperation to
facilitate bilateral trade and improve cross-border payment
mechanisms.


This was announced in a report published by the press service of
Kazakh Ministry of National Economy, following a meeting between
Deputy Prime Minister and Minister of National Economy Serik
Zhumangarin and Chairman of Ghazanfar Bank Mohammad Ismail
Ghazanfar.


''Kazakhstan attaches great importance to strengthening trade
and economic ties with Afghanistan, noting that the development of
a reliable and transparent banking infrastructure is one of the key
prerequisites for further growth in bilateral trade by ensuring
uninterrupted settlements between businesses in the two
countries,'' Zhumangarin stated this, as reported by the press
service.


The parties also discussed expanding correspondent banking
relations, establishing direct banking channels, improving
cross-border payment mechanisms, and strengthening financial
support for foreign trade operations. They noted that another
Kazakh bank is currently in the process of opening correspondent
accounts with Ghazanfar Bank.


The meeting also highlighted the continued growth in bilateral
trade. Trade turnover between Kazakhstan and Afghanistan reached
$342.4 million in January-April 2026, up 2.3 times from $150.6
million recorded in the same period of 2025.







Kazakhstan's exports accounted for $338.5 million, also
increasing 2.3-fold year-on-year, driven primarily by higher
shipments of wheat, wheat and wheat-rye flour, sunflower oil, and
other agricultural products.


According to the ministry, currently, two of Kazakhstan's 23
banks maintain correspondent relationships with Afghan banks.
Cross-border payments and money transfers between Kazakhstan and
Afghanistan reached 140 billion tenge (about $289 million) in 2025,
up 26% compared to 2024. Payments for goods and services increased
fivefold during the same period.


Ghazanfar Bank, one of Afghanistan's oldest commercial banks
operating since 2009 under a license from the country's central
bank, provides both conventional and Islamic banking services. The
bank maintains correspondent relations with financial institutions
in several countries, including Kazakhstan, Türkiye, the UAE,
China, India, Uzbekistan, and Bahrain. In Kazakhstan, its
correspondent banking partner is Zaman Bank. In 2025, Ghazanfar
Bank processed approximately $1.3 billion in international payments
and transfers.