Business

Construction Companies Seek Standard Banking Services

Published

7 years ago

January 8, 2017

(Last Updated On: October 24, 2022)

Some representatives of private construction companies and Banks have gathered in Kabul on Sunday to find ways of accessing standard banking services saying despite of enormous construction development made in the past years in Afghanistan, still challenges on standard Banking services remain as obstacle.

Minister of Urban Development and Housing Sayed Sadaat Mansour Naderi said, “The private and Governmental Banks are having valuable trusts, they can provide long term 10 or 20 years of loans for the housing applicants and the construction companies and reverse they can gain more benefits from the services.”

Minister of Public works Mahmood Baligh has declared several issues as main barriers for the private construction companies, lack of cash, high rate of bank interests, no insurance.

He said, “Banks has been playing poor role in providing loans for the construction companies, amid the construction companies are supporting financially the construction development by their own money.”

Meanwhile members at Afghanistan Banks Association (ABA) have declared the main challenges which are no Banking guarantees and insecurity demanding the Government to in place a proper policy for accessing loans.

Chairman of the Afghanistan Banks Association Najeebullah Amiri said, “One of the main obstacles for giving loans in Afghanistan is to receive back the loans on the determined date, our National businessmen were blackmailed and their identities were misused, some individuals who were not holding business positions received loans from the Banks where it rose the risks of receiving loans from the Banks.”

Based on the estimation, the Afghanistan Banks Association has provided $ 42 billion loans that 208 million Afghani loans were given to the provide construction companies which indicates only 2 percent of financial supports.

Reported by: Lida Naizi

Business

Afghanistan’s imports and exports totaled $10.3 billion last year

Published

10 hours ago

May 15, 2024

Ariana News

(Last Updated On: May 15, 2024)

The National Statistics and Information Authority (NSIA) said on Wednesday that last year, the value of exports totaled $1.79 billion while imports totaled $8.57 billion.

According to NSIA, fruits accounted for the largest share of export items last year, totaling over $645 million.

Medicinal plants, minerals and vegetables were the next top three items respectively to be exported.

Meanwhile, petroleum and oil accounted for the largest portion of imported goods, totaling over $1.37 billion.

Another large portion of the total amount imported went to machinery, vehicles and parts. This totaled over $1.15 billion, followed by textiles, metals and metal products.

Business

Acting commerce minister heads to Russia to attend Kazan Forum

Published

1 day ago

May 14, 2024

Ariana News

(Last Updated On: May 14, 2024)

Nooruddin Azizi, Acting Minister of Industry and Commerce, headed to Russia to participate in an international economic meeting in Kazan, Tatarstan.

The aim of the Russia-Islamic World: KazanForum 2024, the 15th edition of the forum, is to offer a platform for leading international economic and financial specialists from the Islamic world to strengthen ties between the countries of the Organization of Islamic Cooperation (OIC) and the regions of the Russian Federation in the economic, educational, social and cultural spheres, Anadolu Agency reported.

The Ministry of Industry and Commerce said that Azizi, leading a high-level delegation of the Islamic Emriate, traveled to Tatarstan at the invitation of Tatarstan President Rustam Minnikhanov.

The forum is held between May 14 and 19.

The forum also aims to promote the development of Islamic financial institutions in Russia and worldwide, with a focus on joint international projects and programs, according to Anadolu Agency.

More than 80 nations are expected to participate in the event, including representatives of the United Arab Emirates, Bahrain, Malaysia, Türkiye, Iran, Libya, and other OIC member states.

Business

Afghanistan can become important industrial center in region: Hanafi

Published

3 days ago

May 13, 2024

Ariana News

(Last Updated On: May 13, 2024)

Deputy Prime Minister for Administrative Affairs Abdul Salam Hanafi says Afghanistan has the potential to become one of the most important industrial centers in the region.

Speaking at the opening ceremony of the national and international expo on the occasion of Industry Week, Hanafi said that the growth of industry lays the foundation for the growth of other economic sectors and that the Islamic Emirate fully supports domestic production in the country.

“Afghanistan has important and rich factors for industrial production, which can become one of the important industrial centers in the region. The growth of industry will be the basis for the growth of other economic sectors, especially agriculture,” said Hanafi.

Acting Minister of Industry and Commerce, Nooruddin Azizi, added that the IEA has programs in the fields of industry development and support for the private sector that will make Afghanistan self-sufficient.

Azizi stated that Afghanistan’s industrial sector is currently progressing and the quality of export goods has also improved.

Some investors said at the ceremony that after the return of the IEA, the country’s exports have increased and the number of manufacturing companies has also increased.

This expo is open to visitors for seven days, and industrial products are showcased in 450 booths.
Women in business also attended the meeting.