Business
Concerns grow over economic situation as Kabul banks remain closed
Afghans on Tuesday warned the ongoing closure of banks will lead to an economic crisis in the country and appealed to the Taliban to get the banks to reopen as soon as possible.
This comes after the Ministry of Finance issued a statement Sunday saying that the banks would reopen on Tuesday.
Members of the public said if banks do not open soon they will start demonstrating.
Banks have been closed for more than a week, following the takeover of the country by the Taliban.
Residents said they kept their money in banks as a safety precaution but are now facing extreme difficulties.
“We put our money in the bank because of thieves, but now that the security is maintained, we cannot withdraw our money,” said Yasmin, one Kabul resident.
“We call on the Taliban to open the banks as soon as possible,” said Abdul Wali Noor, another resident.
“I come every day, unfortunately the banks do not open and it has made us more worried. If the banks do not open, we will hold demonstrations,” said Mohammadi, another Kabul resident.
Another resident said: “I have several months worth of salaries in the bank, but the banks have been closed for 10 days. We are starving to death,” said Abdullah, another resident.
Economists also say that the closure of banks has had a negative impact on food prices.
“They (bank employees) say there is no money, and the cash we had is now finished. Shopkeepers also will not let you borrow money,” said Ahmad Shah, another resident.
However, the Ministry of Finance issued a statement Sunday saying that the banks would reopen on Tuesday, but this has not happened.
This comes after the Taliban appointed an acting director for the Central Bank.
Business
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Business
Afghanistan, Uzbekistan sign 13 trade MoUs worth over $100 million
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.
Business
New Afghanistan-China transport corridor launched via Turkmenistan
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.
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