Connect with us

Business

Global partners strengthen Afghan Islamic finance sector

Since 2024, more than 120 officials from Da Afghanistan Bank, commercial banks, and microfinance institutions have received certifications in areas such as Shari’ah compliance, Islamic accounting, and financial reporting.

Published

on

The United Nations Development Programme (UNDP), the Islamic Development Bank Institute (IsDBI), and the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) are scaling up efforts to strengthen Afghanistan’s financial sector through Islamic finance training and the adoption of international standards.

The partnership, part of the Global Islamic Finance and Impact Investing Platform (GIFIIP) launched by UNDP and IsDB in 2016, seeks to build resilience in Afghanistan’s fragile economy by positioning Islamic finance as a driver for sustainable development.

Since 2024, more than 120 officials from Da Afghanistan Bank, commercial banks, and microfinance institutions have received certifications in areas such as Shari’ah compliance, Islamic accounting, and financial reporting.

Training has included AAOIFI’s flagship programs—Certified Shari’ah Advisor & Auditor (CSAA), Certified Islamic Professional Accountant (CIPA), and others—alongside workshops on ethics, governance, and technical standards.

“These certifications are equipping Afghanistan’s financial sector with qualified professionals in Shari’ah compliance and financial reporting, ensuring alignment with global best practices,” the partners said in a joint statement.

By broadening institutional capacity and strengthening cross-border cooperation, the initiative aims to create a more inclusive financial system capable of supporting long-term growth.

Afghanistan’s banking sector has been under severe strain since the Islamic Emirate’s takeover in 2021, with international sanctions cutting off most external financing and foreign reserves.

Restrictions on the central bank have left commercial banks struggling with liquidity shortages, limited access to correspondent banking, and reduced public trust.

Within this constrained environment, Islamic finance is seen as a potential pathway to keep the sector functional, attract regional investment, and provide alternative tools for economic recovery.

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.

Published

on

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.

Continue Reading

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.

Published

on

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.

Continue Reading

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.

Published

on

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.

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending

Copyright © 2026 Ariana News. All rights reserved!