PROJECT DETAILS:
| Project Name | FINANCIAL SECTOR RAPID RESPONSE PROJECT National Card and Mobile Payment Switch For DA Afghanistan Bank |
| IFB No: DAB/1441/ICB | |
| Grant No. | H732-AF |
| Project ID | 119047 |
| Donor | World Bank |
| End-User | Afghanistan Payments Systems (APS) The Central Bank of Afghanistan (DA Afghanistan Bank) |
| Duration | 04 Years |
| Year | 2012-2016 |
The primary ambition of APS is to enable a “greater flow of money and payments” within the Afghan economy. (In this context, money is defined in its broadest sense, consisting of all forms of payment, including as cash, cheques, cards, and electronic payments).
An important second ambition is to reduce the usage of cash (notes and coins) in the settlement of financial transactions.
The third ambition is to facilitate the banking sector’s requirement for implementing cross border payments and to keep abreast with International developments in payment systems.
The fourth ambition is to build an interoperable payments infrastructure that reaches all segments of the Afghan population, through the use of authorized payment agents and innovative payment mechanisms like mobile money.
Developing and modernizing the retail banking market in Afghanistan by providing innovative electronic and mobile payment services that enhance the retail banking offering in the country.