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Afghan Senate accuses central bank officials of “violating law”

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Last Updated on: October 25, 2022

Members of the Upper House of the Afghan parliament said that the Central Bank Governor Ajmal Ahmadi, contrary to principles, has fired his deputies and staff, calling him a “tyrant”.

In a video released on social media shows that Afghan Central Bank – Da Afghanistan Bank -security guards did not allow Wahid Nooshir, the organization’s first deputy, to enter his office.

Nosher, in a Facebook post, said that as per the oral direction of President Ghani he intended to resign from his post on Monday, but he was not allowed to enter the Bank.

Nosher accused Ajmal Ahmadi of breaking administrative principles.

Qasim Rahimi, dismissed deputy head of the Central Bank of Afghanistan also considers the attitude of the head of this institution towards the bank’s employees against the law and principles.

According to the article Seven of the Da Afghanistan Bank Law, the Supreme Council of Da Afghanistan Bank shall be composed of seven members, as follows: Governor as Chairman of the Supreme Council First Deputy Governor as Vice Chairman of the Supreme Council Five other members.

The article says that “[All] members of the Supreme Council shall be appointed by the President of Afghanistan with the consent of the parliament of Afghanistan.”

Article 12 of the law says that the Governor, the First Deputy Governor, and any other member of the Supreme Council, of Da Afghanistan Bank, shall be suspended or removed from office by the President of Afghanistan.

“No member of the Supreme Council shall be suspended or removed from office before a hearing has been held by the President of Afghanistan where such member or his legal representative has presented his reasons,” read the law.

Meanwhile, lawyers say that if any employee of the organization is accused of corruption, only the judiciary has the right to review the case, and then the leadership must decide.

On the other hand, officials at the Integrity Watch of Afghanistan and economic experts are concerned about the current situation at the Central Bank of Afghanistan, saying that the continuation of such a situation will put the financial institution in crisis.

The head of the Central Bank of Afghanistan has not commented on the reason for the dismissal of his two deputies, but a statement from the organization said that the latest measures were taken in accordance with Article 20 and the third paragraph of the Central Bank of Afghanistan law.

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Afghani strengthens nearly 10% against US dollar amid banking sector reforms

The bank said it has expanded oversight of financial institutions and private lenders, improving transparency and promoting more consistent standards across the sector.

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Afghanistan’s central bank, Da Afghanistan Bank, says the national currency has appreciated by 9.93% against the US dollar during the year 1404, citing steady progress in the country’s financial and banking systems.

Officials attributed the gains to cautious monetary policies that have helped stabilise the Afghani against major global currencies while also boosting its value against the dollar.

The bank said it has expanded oversight of financial institutions and private lenders, improving transparency and promoting more consistent standards across the sector.

As part of efforts to better manage liquidity, authorities also collected and destroyed worn-out banknotes in circulation. At the same time, officials reported growth in electronic banking, with digital payment usage rising in recent months.

Central bank spokesperson Haseebullah Noori said initiatives are underway to broaden access to banking services nationwide, including the wider rollout of Islamic banking options.

Analysts welcomed the stabilisation efforts but stressed the need to address ongoing challenges facing domestic banks, including the impact of international financial sanctions on Afghanistan.

They added that expanding Islamic banking could help draw more savings into the formal financial system, noting that a significant share of personal wealth remains outside banks. Bringing those funds into the sector, they said, could inject billions of Afghanis into the economy and further support financial stability.

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Uzbekistan delivers over 290 tons of aid to Afghanistan

The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.

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Uzbekistan has delivered more than 290 tons of humanitarian aid to Afghanistan, according to the country’s Ministry of Foreign Affairs.

The assistance, provided ahead of Eid al-Fitr, is intended to support vulnerable communities while reinforcing ties between the neighboring countries.

The shipment includes essential food supplies such as flour, rice, wheat, vegetable oil, instant meals, pasta, and confectionery. An official handover ceremony was held in the border town of Hairatan.

Local officials, including Balkh province representatives and authorities from Hairatan, expressed appreciation for the continued support, acknowledging Uzbekistan’s efforts to assist the Afghan people.

Among those present at the ceremony were Uzbekistan’s Ambassador to Afghanistan, Oybek Usmanov, and Surkhandarya regional governor Ulugbek Kosimov.

The aid delivery underscores Uzbekistan’s ongoing humanitarian engagement and its broader efforts to promote regional cooperation and stability.

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Turkmenistan, Afghanistan discuss steps to speed up land acquisition for TAPI pipeline

By the end of the year, the vessels are expected to deliver about 11,700 pipes as part of preparations for construction of the TAPI pipeline.

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Officials from Turkmenistan and Afghanistan have held talks aimed at accelerating land acquisition for the long-planned Turkmenistan-Afghanistan-Pakistan-India (TAPI) pipeline, according to Afghanistan’s Ministry of Agriculture, Irrigation, and Livestock.

The issue was discussed during a meeting between TAPI project head Murad Amanov, Afghanistan’s acting Minister of Agriculture, Irrigation, and Livestock Mullah Attaullah Omari, and Turkmenistan’s ambassador to Afghanistan Hoja Ovezov.

Amanov briefed Afghan officials on recent progress and emphasized the need to accelerate procedures related to land acquisition and the determination of land prices in line with the framework agreement signed by the four participating countries.

Meanwhile, vessels operated by the Azerbaijan Caspian Shipping Company (ASCO), part of AZCON Holding, have begun transporting pipes for the project. The shipments are being carried from the Port of Baku to the Turkmenbashi International Seaport.

By the end of the year, the vessels are expected to deliver about 11,700 pipes as part of preparations for construction of the TAPI pipeline.

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