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Bank-e-Millie Afghan was the first financial institution in Afghanistan, which opened in 1933 by Herati businessman Abdul Majid Zabuli. It was established as a public-private partnership, with a 72 percent share held by the private sector. BMA was instrumental in introducing formal banking services to the people and government.In 1976, BMA was fully nationalized by the government of Afghanistan. BMA has 15 city branches in Kabul, along with 21 provincial branches.