Business
Conference on Islamic microfinance kicks off in Kabul
The four-day conference will discuss topics related to Islamic finance in Afghanistan, microfinance, job creation, poverty reduction, and financial inclusion.
A conference focusing on Islamic microfinance under the title ‘Islamic Finance Week of Afghanistan’ got underway in Kabul on Monday.
The conference, organized by the United Nations Development Program (UNDP) has brought together representatives of Da Afghanistan Bank (DAB), the Ministry of Industry and Commerce, UNAMA, ambassadors from some countries, representatives of the private sector, commercial banks, microfinance institutions, and representatives of various other financial and banking institutions, DAB said in a statement.
The four-day conference will discuss topics related to Islamic finance in Afghanistan, microfinance, job creation, poverty reduction, and financial inclusion.
Sidiqullah Khalid, the Director General of the Governor’s Office of DAB, said that despite many challenges, the Islamic banking sector is still in a developing and stable condition.
He added that guidelines and frameworks for transitioning from conventional banking to Islamic banking, adapted to Afghanistan’s conditions, have been developed by utilizing the experiences of other Islamic countries.
According to him, the level of public trust in banks is increasing day by day, and significant steps will be taken soon in the area of financial development.
“DAB has relations with several international institutions that work in the field of Islamic finance and banking, and DAB will also utilize the standards, financial products, and training programs of these international institutions, along with the experiences of other Islamic countries, to further strengthen the Islamic banking in the country,” he said.
Khalid also stated that microfinance institutions play an important role in diversifying financial products, particularly in providing access to financial products for small businesses, agricultural growth for farmers, facilitating business opportunities for small entrepreneurs, reducing poverty levels, creating job opportunities, and overall contributing to the economic growth and development of the country.
He added that the bank has developed and finalized a framework for the regulation and supervision of this sector. Individuals in all provinces of the country who wish to provide services to the citizens through microfinance institutions can obtain a license from DAB.
Related stories:
Doha meeting on Afghanistan to focus on private sector, finance, banking, drugs: IEA

Afghanistan’s central bank chief upbeat over stable AFN

Business
Iraqi intelligence report alleges oil smuggling network supplying Afghanistan and Turkey through Iran
The report highlights broader challenges facing regional authorities in combating illicit oil trade and enforcing international sanctions.
An Iraqi intelligence report obtained by Sky News Arabia has revealed alleged large-scale crude oil smuggling operations from northern Iraq into Iran, where the oil is reportedly refined and later sold in regional markets, including Afghanistan and Turkey.
According to the report, shipments of crude oil are transported through land routes and unofficial trade channels into Iranian territory, where they undergo refining and processing before being re-exported to foreign markets.
The intelligence findings suggest that the alleged network is designed to bypass international sanctions and facilitate the movement of petroleum products outside official trade and financial monitoring systems.
The report further indicates that smuggling networks rely on informal transportation routes and cross-border commercial channels to maintain the collection, processing and distribution of oil products while avoiding regulatory oversight.
The revelations have raised concerns over cross-border smuggling, the loss of national resources and the potential impact of illicit oil trade on regional economies.
Security and political observers say the reported activities could put additional pressure on Iraqi authorities to strengthen border controls, monitor oil transportation routes and improve coordination with regional and international partners.
However, the allegations outlined in the intelligence report have not been independently verified, and further details about the networks involved, the quantities of oil transported and the scale of supplies reaching Afghanistan and Turkey remain unclear.
The report highlights broader challenges facing regional authorities in combating illicit oil trade and enforcing international sanctions.
Business
$30 million pharmaceutical investment launched in Herat as new production line opens
Meanwhile, the newly inaugurated serum and injectable production line is capable of producing up to 100,000 packages of serum per day.
The foundation stone has been laid for three new pharmaceutical production blocks at Ovison Pharma in Herat, with an investment of $30 million, while the factory’s new serum and injectable production line has also been inaugurated.
The new production blocks will be constructed on a 3,000-square-metre site, with each facility planned to have five floors. Equipped with advanced machinery and designed to meet international standards, the expansion is expected to significantly increase the factory’s pharmaceutical production capacity.
Meanwhile, the newly inaugurated serum and injectable production line is capable of producing up to 100,000 packages of serum per day.
The expansion marks a significant step toward strengthening Afghanistan’s pharmaceutical industry, increasing domestic production and reducing the country’s reliance on imported medicines.
The investment is also expected to support the development of local manufacturing capacity and improve access to domestically produced pharmaceutical products.
Business
Afghanistan approves new foreign investment policy in bid to attract international investors
The decisions have been forwarded to the office of the Supreme Leader of the Islamic Emirate for final approval.
Afghanistan’s Economic Commission has approved a new foreign investment policy aimed at attracting international investors, improving investment opportunities and supporting the country’s economic growth.
The decision was made during the commission’s regular meeting, chaired by Mullah Abdul Ghani Baradar, Deputy Prime Minister for Economic Affairs, at the Marble Palace on Monday.
According to the Deputy Prime Minister’s Office for Economic Affairs, the proposed policy was presented by a committee established under the leadership of the economic deputy office. Following a comprehensive review and consideration of the commission’s recommendations, the policy was approved.
The policy aims to regulate foreign investment activities, facilitate investment procedures, create a favourable environment for investors, ensure investment security and promote Afghanistan’s economic growth and development.
During the meeting, the commission also approved a proposal concerning the payment of fixed taxes by commercial import companies at the country’s customs offices.
Officials said implementing the proposal would create additional facilities and simplify procedures for importing businesses.
The decisions have been forwarded to the office of the Supreme Leader of the Islamic Emirate for final approval.
-
Sport3 days agoAfghanistan’s record partnership highlights fourth day of Test against Zimbabwe
-
World3 days agoHouthi-run health ministry says airstrikes kill 33 near Yemen capital
-
Sport5 days agoAbu Muslim Farah claim convincing 3-0 win over Omar Zawak in ACL
-
Regional4 days agoPakistan’s leaders dread US Democrats’ win but its households are praying for it
-
Sport4 days agoToofan Herat defeat Arman FC 2–0 in Afghanistan Champions League
-
Sport3 days agoAfghanistan thrash Senegal 6-0 to reach Dakar Youth Olympics futsal semi-finals
-
Sport2 days agoPortugal beat Afghanistan 2-0 in Dakar Youth Olympics futsal semi-finals
-
Business4 days agoUK-Afghanistan trade falls 16.7% to £70 million over 12 months
