Afghan Fund trustee Mehrabi to attend DAB meeting

The Supreme Council of Da Afghanistan Bank will hold a two-day meeting in Kabul, and Shah Mohammad Mehrabi, a board member of the Swiss-based trust fund, is expected to attend the meeting.

Afghan central bank officials say the meeting is set to kick off within the next two days, and aims to resolve banking issues.

Afghanistan’s frozen assets are expected to be discussed in the meeting.

“It (Mehrabi’s participation) would mean empowering Afghanistan authorities. It would also suggest semi-recognition. I think it will be a very good visit, because he has lobbied a lot… a direct relation will be established between the US and Afghanistan authorities,” said Sayed Massoud, an economic expert.

“Unless Afghanistan’s assets are handed over to Da Afghanistan Bank, we cannot call it good news. The money they have kept in the fund is for non-monetary purposes which is never acceptable to Afghanistan. It would affect the value of Afghani currency and the economic condition,” said Lal Zazai, an economic expert.

The meeting comes two weeks after the board of the Swiss-based trust fund managing $3.5 billion in frozen assets held its first meeting.

Anwar-ul-haq Ahadi, one of the board members, in an interview with Ariana News, recently suggested that the assets could also be used to provide liquidity to the banking system in Afghanistan.

“We want to reach an understanding in this regard with the central bank and the finance ministry,” Ahadi said.