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Finance & Reporting
Finance and Reporting function is responsible for all the finance related matters of the Bank. The department is ensuring that accounting policies, reporting issues and related matters are in line with the provision defined by the DAB, IFRS, IAS, Afghanistan Law of Banking, The Afghanistan Bank Law, AAOIFI and IFSB, etc.
The Finance department is responsible to draft all the accounting policies and procedures for the Bank to be approved by the Board as per the requirements of Code of Corporate Governance (CCG).
The Head of Finance is responsible for the overall accounting records of the Bank. The department will maintain books of accounts along with preparation of financial statements and management accounts. The department is also responsible for coordination and facilitation of business planning and budgeting function and periodic reporting to the Chief Financial Officer (CFO).
The financial performance / results of the Bank is regularly communicated to the CEO / Dy. CEO in the form of a report prepared by the department.
The department is required to prepare, review and submit relevant returns relating to the Bank on timely basis. It will also be responsible to prepare and submit reports as required by DAB.
In respect of the financial reporting function and disclosure requirements from Shariah perspective, IBA adopted AAOIFI and IFSB’s relevant accounting standards for accounting treatment and disclosure requirements for Islamic products. Budgeting
The budgeting function has fundamental importance and will be a part of the Finance department, as it will help to assess the funding requirements for business expansion and facilitating key decision-making.
