Bank Alfalah completes Afghanistan banking exit, transfers operations to Ghazanfar

Bank Alfalah Limited BAFL completed the transfer of its Afghanistan banking operations to Ghazanfar Bank on 5 November 2026, following regulatory approvals in Pakistan and Afghanistan and the fulfilment of other transaction conditions, according to a filing with the Pakistan Stock Exchange.

The handover covered the banking business at Bank Alfalah’s Kabul and Herat branches, as well as the related assets and liabilities. The bank has ended its banking activity in Afghanistan and will close its branches in line with applicable regulatory requirements.

Bank Alfalah began operating in Afghanistan in 2005, opening a branch in Kabul before expanding to Herat. It provided conventional and Islamic banking services in the country.

The exit followed Ghazanfar Bank’s non-binding offer to acquire the operations, which Bank Alfalah’s board accepted in December 2025. In January 2026, the State Bank of Pakistan and Afghanistan’s central bank gave in-principle approval for Ghazanfar Bank to begin due diligence. The offer was subject to due diligence and regulatory approvals.