Afghanistan's Central Bank, Da Afghanistan Bank (DAB) has signed an agreement with a non-profit independent organization 'Harkat' for implementing the Shariah compliant banking system in the country. Under the agreement, the Harkat will provide 1.17 million dollar grant to the Afghan Central Bank. The DAB officials have expressed hope that the project would help strengthen the banking and financial sector in the country. The agreement provides for creating regulatory framework for implementing Islamic banking system in Afghanistan and creating Sharia compliant facilities in the country. The project will be implemented this year.The Islamic banking or Sharia compliant banking is a system based on the principles of Islam which prohibit acceptance of interest and investment in businesses of certain goods like alcohol considered sinful or haram.