Connect with us

Business

Afghans using crypto to ‘safeguard’ their savings

Published

on

(Last Updated On: )

Afghans are reportedly acquiring digital assets that they use to preserve their savings and to lessen the chance of having their money seized by the new authorities, Bloomberg reported this week.

According to Bloomberg, the demand for digital currencies in Afghanistan has surged as some Afghans look to buy stablecoins like tether because they are pegged to the U.S dollar.

The report quotes one 26-year-old Afghan resident, Habibullah Timori, as saying they the demand for cryptocurrencies is high.

“During other crises, people stored their cash and jewellery in the ground or under their pillows. This time, they’ve decided to keep it buried in crypto,” he said.

The report also cites another 26-year-old Afghan, Naser Ali, who claims to have converted $30,000 stashed in his safe to USDT.

Ali said he regrets not having known about cryptocurrencies sooner, Bloomberg reported.

Despite the surging demand for cryptocurrencies, exchanges like Maihan say the U.S. sanctions on Afghanistan are making it difficult for residents to buy digital currencies. Further, residents buying from local crypto exchanges are charged a commission of 1.5% for every crypto transaction.

Business

Afghanistan records trade volume of $292 million via air corridors in 1403 solar year

Published

on

(Last Updated On: )

Afghanistan’s Ministry of Industry and Commerce says that in the solar year 1403 (April 2024 to March 2025), goods worth $292 million were transported through air corridors.

Abdulsalam Jawad Akhundzada, the ministry’s spokesman, said that the value of exports through air corridors this year totalled $125 million and imports $167 million.

He added that the main export items were dried fruits, saffron, dried and fresh figs, jujubes, pine nuts and handicrafts, and the main import items were medicines and electronic devices.

Akhundzada said that exports happened through Kabul, Kandahar and Mazar-i-Sharif airports to the United States, Germany, China, India, Britain, South Africa, Austria, United Arab Emirates and some other countries.

Continue Reading

Business

Oman and Afghanistan explore ways to further enhance bilateral trade relations

During the meeting, Rawas and Muttaqi agreed to facilitate trade exchange between the two countries and utilize the available opportunities for mutual benefit.

Published

on

Mutaqqi in Oman
(Last Updated On: )

Faisal Abdullah Al Rawas, Chairman of Oman Chamber of Commerce and Industry (OCCI) met with Amir Khan Muttaqi, the Acting Minister of Foreign Affairs of Afghanistan, for talks on boosting trade relations between the two countries.

The meeting comes within the context of promoting relations between Oman and Afghanistan in the economic and trade sectors.

The two sides discussed ways to expand cooperation in the fields of trade, investment and economy, as well as developing ties in the logistics and tourism sectors.

They also touched on supporting joint projects that contribute to stimulating economic growth.

The two sides underlined the importance of exchanging experiences and knowledge in those fields.

During the meeting, Rawas and Muttaqi agreed to facilitate trade exchange between the two countries and utilise the available opportunities for mutual benefit.

Muttaqi traveled to Oman on Sunday. The foreign ministry announced that the trip was made at the invitation of the Omani Foreign Minister.

Continue Reading

Business

Iran’s non-oil export to Afghanistan up 31% in 10 months

Iran exported non-oil commodities valued at $1.9 billon to Afghanistan between March 20 last year and January 19 this year.

Published

on

(Last Updated On: )

The value of Iran’s non-oil export to Afghanistan increased by 31 percent in the first ten months of the Persian calendar against the same period last year, Tehran officials confirmed.

The Tehran Times reported that Iran exported non-oil commodities valued at $1.9 billon to Afghanistan between March 20 last year and January 19 this year.

The spokesperson for the Trade Development Committee of the House of Industry, Mining, and Trade, Ruhollah Latifi, said Afghanistan was the fourth top export destination of Iranian products among Iran’s neighbors in the mentioned ten months.

In a meeting with an Iranian trade delegation in Kabul last August, Afghanistan’s interim Deputy Prime Minister Mullah Abdul Ghani Baradar Akhund said that his country is eager to attract Iranian investors in order to develop the Afghan mining industry, generate solar electricity and expand railway connectivity.

The Iranian delegation also proposed to launch a joint special industrial zone with Afghanistan.

Noting that Afghanistan has turned into a good place for making investment, Baradar said that the relevant ministries and organizations will cooperate and work closely with investors.

The Iranian delegation, made up of economic and trade players, also held a separate meeting with Afghanistan’s acting minister of commerce Haji Nooruddin Azizi. They called for the formation of a joint economic-mining zone between the two neighboring countries.

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending

Copyright © 2024 Ariana News. All rights reserved!