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Afghanistan central bank raises limit on bank withdrawals to $400 a week
Afghanistan’s central bank has eased restrictions on bank withdrawals, lifting the maximum to $400 from dollar-denominated accounts or 30,000 Afghanis a week from the previous limit of $200 or 20,000 Afghanis, the central bank said on Wednesday.
The change, which sets a monthly limit on withdrawals of $1,200 or 100,000 Afghani, came amid growing economic hardship that has left millions in Afghanistan without work and facing hunger.
Even those with savings have struggled to pay for food and household necessities because of the strict limits on withdrawals that were brought in to prevent a run on banks.
Afghanistan’s foreign exchange reserves have been restricted following the Islamic Emirate of Afghanistan (IEA) take over in August, severely limiting the new administration’s room for financial manoeuvre.
Some $9.5 billion in central bank reserves remain blocked outside the country and international support given to the previous government has dried up.
This week, the IEA banned the use of foreign currencies for transactions like buying a car or a house, saying all contracts must be denominated in the Afghani currency.
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Tajikistan says two soldiers killed in clash with militants near Afghan border
Business
Afghanistan’s first aluminum can factory launched in Herat with $120 million investment
Mullah Abdul Ghani Baradar, Deputy Prime Minister for Economic Affairs, laid the foundation stone of the “Pamir” aluminum can production company at the industrial parks of Herat on Thursday.
Afghanistan’s first aluminum can manufacturing plant was officially launched on Thursday in Herat province, marking a significant step toward industrial development and economic self-reliance.
Mullah Abdul Ghani Baradar, Deputy Prime Minister for Economic Affairs, laid the foundation stone of the “Pamir” aluminum can production company at the industrial parks of Herat on Thursday.
According to officials, the Pamir factory is the first of its kind in Afghanistan and is being established with an investment of $120 million. The project will be built on 16 jeribs of land within Herat’s industrial zones.
Once completed, the factory is expected to create employment opportunities for around 1,700 Afghan citizens. Officials say the project will play a key role in boosting domestic production, reducing reliance on imports, and strengthening the national economy.
Authorities described the launch of the project as a clear sign of growing investment in the industrial sector and ongoing efforts to promote economic self-sufficiency in the country.
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Medvedev: IEA posed less threat to Russia than western-backed groups
He added that such organisations have consistently pursued one objective: “to break apart the multiethnic people of Russia.”
Russia’s Deputy Chairman of the Security Council, Dmitry Medvedev, has said that the Islamic Emirate of Afghanistan (IEA) caused less harm to Russia than Western-backed civic organisations that, he claims, sought to undermine the country’s unity.
In an article published in the Russian journal Rodina, Medvedev wrote that while the IEA had long been designated as a terrorist organisation, its actions did not inflict the same level of damage on Russia as what he described as Western-supported institutions operating under the banner of academic or humanitarian work.
“Let us be honest: the Taliban (IEA) movement, long listed as a terrorist organisation, has caused modern Russia far less damage than all those pseudo-scientific institutions whose aim is to dismantle our country under the guise of aiding the oppressed,” Medvedev stated.
He added that such organisations have consistently pursued one objective: “to break apart the multiethnic people of Russia.”
Medvedev’s remarks come amid a shift in Russia’s official stance toward Afghanistan. In April, Russia’s Supreme Court suspended the ban on the Islamic Emirate of Afghanistan, which had previously been included on the country’s list of terrorist organisations.
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