Business
IEA ban use of foreign currency in Afghanistan
The Islamic Emirate of Afghanistan [IEA] announced a complete ban on the use of foreign currency in Afghanistan on Tuesday, a move sure to cause further disruption to an economy pushed to the brink of collapse by the abrupt withdrawal of international support, Reuters reported.
The surprise move came hours after at least 25 people were killed and more than 50 wounded when gunmen attacked Afghanistan’s biggest military hospital after two heavy explosions at the site in central Kabul.
“The economic situation and national interests in the country require that all Afghans use Afghan currency in their every trade,” the IEA said in a statement shared with journalists by their deputy minister Zabiullah Mujahid.
The use of U.S. dollars is widespread in Afghanistan’s markets, while border areas use the currency of neighbouring countries such as Pakistan for trade.
The IEA government is pressing for the release of billions of dollars of central bank reserves as the drought-stricken nation faces a cash crunch, mass starvation and a new migration crisis.
Afghanistan parked billions of dollars in assets overseas with the U.S. Federal Reserve and other central banks in Europe, but that money has been frozen since the IEA ousted the Western-backed government in August.
The departure of U.S.-led forces and many international donors left the country without grants that financed three quarters of public spending.
The finance ministry said it had a daily tax take of roughly 400 million Afghanis ($4.4 million).
Although Western powers want to avert a humanitarian disaster in Afghanistan, they have refused to officially recognise the IEA government.
* We Give So They May Live Campaign – Donate Here: www.helpafg.org
Ariana News and Ariana Television fully support the Bayat Foundation’s initiative to raise funds to provide emergency aid to poverty-stricken Afghans. As official media partners we appeal to you to help provide food essentials to as many Afghan families as possible.
Nooruddin Azizi, Acting Minister of Commerce and Industry, met with representatives from the ministries of foreign affairs, defense and interior of Malaysia, along with other senior officials, on Wednesday and called on Malaysians to invest in Afghanistan.
The visiting delegation is being led by senior diplomat Dr. Shazelina Zainul Abidin.
According to the IEA’s foreign ministry, the two sides discussed bilateral trade, holding a business communication conference to strengthen trade relations between the two countries, the trade balance between Afghanistan and Malaysia, and creating a market for Afghan products, including carpets, cotton, and minerals.
According to the ministry, at the end of the meeting, the Acting Minister emphasized the increase of investment from regional countries in Afghanistan and called on Malaysian investors to also invest in Afghanistan.
The Ministry of Interior says that Afghanistan has started exporting goods to Turkey via the Herat-Khaf railway line.
In a post on X, the ministry said: “Afghanistan’s exports to Turkey started in a calm atmosphere through the Herat-Khaf railway line.”
The ministry added that one train will run daily for a month and then two trains will run daily.
According to the ministry, the security of Khaf-Herat railway line is provided by the guards of the National Public Protection Agency.
Khaf-Herat railway project not only connects Iran and Afghanistan by rail, but also completes a 2,000-kilometer route along the east-west rail corridor from China, through Uzbekistan, to Afghanistan, to Iran, and on to Turkey and Europe.
As a landlocked country, this railway network will provide a safe route to connect with Europe via Iran’s railway network and Iran’s southern ports.
This railway line is strategic for trade between Iran and Afghanistan and will allow six million tons of goods to be sent between the two countries.
A joint expo between Afghanistan and Kazakhstan will be held in Kabul in the next four days, officials said on Sunday.
Officials of the Ministry of Industry and Commerce said that the two-day expo will be held for the purpose of expanding and strengthening trade relations between the two countries.
“This expo will be held as a follow-up of the Kazakh-Afghan international expo, which was held in the city of Astana, Kazakhstan, with the participation of a large delegation of the government and the private sector of the Islamic Emirate of Afghanistan,” Abdulsalam Javad Akhundzadeh, the spokesman of the Ministry of Industry and Commerce, said.
“At this expo, domestic products from different sectors of Afghanistan and the Republic of Kazakhstan will be put on display for two days.”
According to officials, 40 large Kazakh companies, and 40 large Afghan companies will exhibit their products.
Mohammad Saber Latifi, head of the Afghanistan International Expo Center, said that fruits, minerals and commercial services will be displayed at the expo.
During the expo, various memorandums of understanding for the trade of goods are also expected to be signed by companies.
US student protests over Gaza intensify despite arrests
Tahawol: Pakistan’s security concerns from Afghan soil discussed
Saar: Visits by foreign diplomats to Kabul discussed
Girls’ education is a ‘vital issue’ for Afghanistan: Karzai
Uzbekistan’s humanitarian aid arrives in Balkh
Dead body of Quran-burner found in Norway
ATN secures rights to produce, broadcast second season of KPL
Yadav hits 156.7 km/h as Lucknow trump Bengaluru in IPL match
Afghanistan’s national futsal team ‘ready for’ group stage of Asian Cup
Afghanistan, Pakistan agree to abandon barter trade, establish banking relationships
Tahawol: Pakistan’s security concerns from Afghan soil discussed
Saar: Visits by foreign diplomats to Kabul discussed
Tahawol: Calls for handing over Afghanistan’s seat to IEA discussed
Malaysian delegation trip to Kabul discussed
Tahawol: US State Dept’s criticism of human rights violations in Afghanistan discussed
-
Latest News5 days agoPakistan’s frontiers minister stresses ‘dignified’ return of Afghan refugees
-
Latest News3 days agoRashid Khan named AWCC’s brand ambassador
-
Regional4 days agoIranian president lands in Pakistan for three-day visit to mend ties
-
Climate Change5 days agoMassive river flooding expected in China, threatening millions
-
World5 days agoTwo Japan navy helicopters crash, one body found, 7 missing
-
Sport4 days agoKolkata beat Bengaluru by one run in IPL as Kohli fumes at dismissal
-
Sport4 days agoACL: Aino Mina 3-0 Istiqlal Kabul; Attack Energy 3-0 Khadim
-
Climate Change4 days agoRescuers race to reach those trapped by floods in China’s Guangdong