The 60-second version
Afghanistan has no functioning listed exchange — expats close bank custody or offshore fund folios, wire USD to NRE, and disclose in Schedule FA.
No local exchange — NGO payroll and custody often share Azizi or AIB account
Afghanistan does not operate a listed exchange — investment accounts are bank custody or offshore USD fund folios.
Redeem holdings and obtain custody termination before closing linked AFN/USD bank account.
Bank lane: Afghanistan bank guide after custody zero.
Afghanistan custody wind-down
| Account | Currency | Step |
|---|---|---|
| Azizi custody | AFN/USD | Redeem + close |
| AIB custody | USD | Termination letter |
| Offshore fund | USD | Redeem units |
| NRE | INR/USD | SWIFT receipt |
Closure
Inventory
List holdings.
Redeem
Sell funds/bonds.
Employer letter
NGO payroll proof.
USD wire
SWIFT to NRE.
Schedule FA
Last FY asset.
Flow
Afghanistan custody kit
- Holding stmt.
- Redemption confirms.
- Closure letter.
- SWIFT.
- Employer letter.
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Correspondent SWIFT
Indian AD bank may reject Afghanistan-origin custody wire without employer payroll proof — pre-clear with AD bank.
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Local exchange?
No — custody at Azizi/AIB or offshore broker.
Schedule FA?
Declare foreign financial asset in last FY held.
FBAR?
US person — FinCEN 114 if aggregate > USD 10K.
vs bank?
Close bank after custody zero — see Afghanistan bank guide.
Pakistan parallel?
Pakistan brokerage guide for Islamabad holdings.
Retention?
Keep closure letter and SWIFT 7 years Indian + 10 years US/UK.
Your NRE account redesignation has a deadline.
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