Business
Afghanistan: Central bank delivers report for last fiscal year
Da Afghanistan Bank presented its performance report for the last solar year, 1401, (March 21, 2022 to March 20, 2023) on Wednesday and reported the value of the afghani increased by 1.01 percent against the previous year.
Bank officials said at a press conference in Kabul that there had also been a 59.5 percent increase in revenue collected in 1401, which totaled over $8.68 billion.
Officials said during the last year, Da Afghanistan Bank has managed the country’s foreign exchange reserves to meet the needs of the market and is trying to take effective steps to strengthen the banking and financial sector through the release of the country’s foreign exchange reserves.
Formulating a strategic plan for the management of the banking sector, reviewing legal documents, continuous monitoring of the activities of licensed banks, removing restrictions on withdrawing money from personal accounts in commercial banks and obtaining licenses from the US Treasury Department for the purpose of improving the banking system, were key achievements by Da Afghanistan Bank during the last year.
Officials also said an Islamic Banking Committee had been established within the framework of Da Afghanistan Bank in order to strengthen the Islamic banking system in the country.
Also, in order to regulate, mechanize and manage the affairs of the non-banking sector in the country as best as possible, a master plan has been drawn up by Da Afghanistan Bank and sent to the Islamic Emirate of Afghanistan’s Cabinet for approval.
The officials stated that in the past year, Da Afghanistan Bank has prevented money laundering and currency smuggling in the light of applicable laws, and in order to build trust, it has sent its performance report to relevant international organizations.
Officials of Da Afghanistan Bank say that in order to manage liquidity in the capital and provinces, the bank has taken solid steps to implement reasonable plans.
They said in the past year, the amount of 1.1 billion afghanis was released into circulation and old bank notes were withdrawn.
According to officials, the creation of a registration system of loan rights of movable properties and the monitoring system of the non-banking sector, the renewal of the banking systems of the capital and the adoption of necessary cyber measures for the security of the SWIFT system are other achievements of Da Afghanistan Bank during the year 1401.
Ariana Afghan Airlines has announced a reduction in cargo service rates on the Kabul–Delhi route as part of efforts to support Afghanistan’s trade and export sector.
The airline said the new cargo rate has been set at $1.20 per kilogram, a move intended to make air freight more affordable and accessible for Afghan traders and exporters.
Bakht-ur-Rahman Sharafat, head of Ariana Afghan Airlines, said the decision is expected to play a significant role in increasing exports of domestic products and strengthening commercial activity between Afghanistan and India.
He added that Ariana will continue to introduce new measures in the future to improve its services and better meet the needs of its customers.
Thirteen trade and investment memorandums of understanding (MoUs) worth more than $100 million were signed between private sector representatives of Afghanistan and Uzbekistan during a conference held in Kabul on Saturday.
The conference, which brought together business leaders and officials from both countries, focused on expanding bilateral economic cooperation, increasing trade volume, and identifying new investment opportunities.
Speaking at the event, Nooruddin Azizi, Minister of Industry and Commerce of Afghanistan, said economic relations between Afghanistan and Uzbekistan have gained notable momentum in recent months. He stressed that Afghanistan is actively working to strengthen regional trade ties and create a more favorable environment for investors.
Azizi added that Afghanistan offers significant investment potential, particularly due to its available workforce and emerging opportunities across multiple sectors, and is ready to welcome joint ventures with foreign partners.
Officials from the Ministry of Industry and Commerce of Afghanistan said the government has facilitated around $2 billion in investment across various sectors over the past year, reflecting growing investor interest in the country’s economy.
The Uzbek delegation also reiterated its commitment to expanding economic relations with Afghanistan, describing the agreements as an important step toward deeper regional cooperation.
Amanbay Orynbayev, head of Uzbekistan’s Karakalpakstan delegation, said his country places strong emphasis on long-term, transparent, and reliable economic partnerships. He encouraged Afghan traders to take advantage of joint investment opportunities to access new regional markets.
The Afghan private sector welcomed the agreements, expressing hope that increased trade engagement and business exchanges will further strengthen economic ties between the two neighboring countries.
Officials noted that the total value of agreements signed between Afghanistan and Uzbekistan has now exceeded $1.5 billion. If implemented effectively, these commitments are expected to contribute to increased trade flows and broader economic growth in Afghanistan.
A new multimodal freight corridor linking China and Afghanistan via Turkmenistan has been officially launched, aiming to improve the speed and efficiency of overland cargo transportation across Central Asia.
According to the Turkmenistan Embassy in London, the country has become part of a newly established route designed to accelerate freight deliveries between China and Afghanistan.
The corridor, developed with the involvement of Uzbekistan Railways’ subsidiary Uztemiryulcontainer, covers approximately 7,400 kilometers and is expected to reduce transit time to around 30 days, improving overall logistics efficiency.
Under the new route, containers are transported by rail from China through the Altynkol station in Kazakhstan, continuing via Uzbekistan to a logistics hub in Bukhara. From there, cargo is transferred to road transport and moved across Turkmenistan before reaching Herat in Afghanistan.
Officials say the new system integrates rail and road networks into a unified logistics chain, making transport more predictable and efficient.
Afghanistan seeks closer trade cooperation with Uzbekistan
Japan announces MEXT scholarships for Afghan students for 2027 academic year
New township to provide over 1,000 land plots for returnees in Logar
Ariana Afghan Airlines lowers cargo rates on Kabul–Delhi route to boost exports
Pakistan ambassador urges Afghan authorities to act against militant threats
Bayat Power extends gas supply deal with Afghan Gas
New Afghanistan-China transport corridor launched via Turkmenistan
Afghanistan moves toward self-sufficiency in car battery production
Germany to launch online visa system for Afghan study and work applicants in Pakistan
War driving hidden climate crisis in Middle East, think tank warns
Tahawol: Afghanistan and Uzbekistan’s growing economic ties discussed
Saar: Afghanistan’s relations with the world discussed
Tahawol: Discussion on unknown fate of Middle East crisis
Saar: Problems and challenges of Afghan refugees in the world discussed
Tawsia: Discussion on Afghanistan’s economic path and position
-
Business3 days agoNew Afghanistan-China transport corridor launched via Turkmenistan
-
Sport2 days agoCanada to host opening ceremony for FIFA World Cup 2026 in Toronto
-
Latest News2 days agoSAARC failure pushes Pakistan toward trilateral ties with Afghanistan, China, Bangladesh: Dar
-
Science & Technology3 days agoJames Webb Telescope captures clearest-ever view of exoplanet’s surface
-
Regional4 days agoUS and Iran closing in on one-page memo to end war, Axios reports
-
Sport2 days agoAfghanistan rises 7 places to 21st in FIFA Futsal World Rankings
-
Sport2 days agoLos Angeles to welcome the world with historic FIFA World Cup 2026 opening event
-
Sport2 days agoAfghan cricket delegation travels to China for technical cooperation