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BAGRAM AIR FIELD, Afghanistan - After several months of preparation, Afghanistan International Bank registered its first Bagram branch accounts earlier this month.
A different bank previously occupied the location but closed early last summer. This left the Army and Air Force Exchange Service and bazaar merchants without a place to pay local bills and run payroll for their local-national workers.
Afghanistan International Bank, a well-known private bank, was asked to create a branch on Bagram.
The bank contributes to the safety of those who work alongside coalition forces, said Army 1st Lt. Catherine Vollertsen, 368th Financial Management Company executive officer and a Manhattan, Kan., native.
"If vendors get stopped or robbed on the route home, they won't lose a week's worth of earnings, and there is no evidence of them working with the [coalition forces]," said Vollertsen.
The contracts were drawn up by the Joint Logistics Commands' 28th Financial Management Co., of the Pennsylvania National Guard, which has since redeployed. The 368th Financial Management Company from Wichita, Kan., has taken over.
"AIB has a good reputation," said Vollertsen. "We're hoping the word-of-mouth will get out to the Afghans that banks are not bad, which will in turn help the economy."
Historically, banks around the region have developed poor reputations.
Most government-owned banks do not have banking software, which leads to less secure funds and longer wait times, said Ahmad Zubair Azizi, AIB cashier.
AIB provides good security of funds by using a top security system, banking software, and only establishing branches in safe locations, Azizi continued.
"For an economy to work, it has to have a strong banking system," said Army Sgt. Maj. Kevin Grosscup, 368th FMC senior financial advisor and a Whitewater, Kan., native.
Grosscup was the bank's first customer and opened the account as a sign of good faith and to wish the bank future success, he said.
Alma Hodzic, the AAFES Frame Shop merchant who also has an account with AIB, said she is very grateful for the new bank.
"It helps me to pay all of the shop's bills," she said.
Additionally, the bank provides jobs to the Afghan people who have shown a strong work ethic.
"The bank employees have agreed to work the longest hours of the week on Friday, which is a sacred day for them," said Vollertsen. "This shows dedication and commitment to making this work."
"This is our contribution to the financial infrastructure of Afghanistan," said Vollertsen.
| Date Taken: | 02.26.2009 |
| Date Posted: | 02.26.2009 08:18 |
| Story ID: | 30474 |
| Location: | BAGRAM AIR FIELD, AF |
| Web Views: | 473 |
| Downloads: | 394 |
This work, Afghanistan International Bank opens doors, economic opportunities, by SPC Jennifer Premer, identified by DVIDS, must comply with the restrictions shown on https://www.dvidshub.net/about/copyright.
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