Business
IEA Islamizing Afghanistan’s banking system
A delegation chaired by Hedayatullah Badri, acting governor of Da Afghanistan Bank, participated in a two-day conference titled “Strategies for the Impending Economic Slowdown and a Post Oil World: Through Economic Diversification and Leveraging Islamic Finance” on November 29 and 30 in Bahrain, DAB said in a statement.
At the conference, Badri said that DAB is committed to fully Islamizing Afghanistan’s banking and financial sector to eliminate interest and other illicit practices. Presently, all forms of interest-based transactions are prohibited, and all conventional banks will be converted into Islamic banks, read the statement.
In addition, he stated that diligent efforts are being made to make the banking and financial sectors in Afghanistan interest free.
These efforts involve drawing upon the experiences of other Islamic countries as well as leveraging the expertise and knowledge of international Islamic institutions.
Furthermore, Badri elaborated on the importance of ensuring that financial products offered by Islamic banking adhere to Sharia standards not only superficially in terms of their form, but also fundamentally in terms of their types.
He underscored the significance of conducting banking and finance activities in areas that yield benefits for the people and contribute to the realization of Sharia goals.
He further stated that particular attention and funding should be directed towards projects that generate job opportunities, alleviate poverty, ensure socio-economic justice, and enhance environmental protection.
On the sidelines of this meeting, Badri met with several international financial institutions, central bank governors from Islamic countries, and diplomats. Additionally, he had a dedicated meeting with Shaikh Ebrahim Bin Khalifa Al Khalifa, Chairman of the AAOIFI Board of Trustees, focusing on Islamic banking and fostering bilateral relations. He also met with the Turkish ambassador in Bahrain and shared insights on banking and economic matters.
He also conducted meetings with the board of directors of Islamic banks, religious scholars, and members of Sharia committees associated with Islamic banks. In these meetings, he provided detailed briefings on the implementation of Islamic banking in Afghanistan under Sharia principles, as well as the monetary policy formulated by Da Afghanistan Bank.
During another segment of the meeting, the Acting Governor of Da Afghanistan Bank engaged in a discussion with the representative of the Ulema (religious scholars) of Bangladesh. The focus of their conversation revolved around the banking and economic situation in Afghanistan, with special emphasis on the factors contributing to the stability of the Afghani currency. The representative of the Ulema of Bangladesh expressed that the Ulema and people of Bangladesh are proud that the Afghani is regarded as the most stable currency in Asia.
Business
Afghanistan officials call for investment during Indian expo visit
The event brought together officials and business representatives from more than 80 countries, showcasing agricultural, industrial, and construction products across 350 exhibition booths.
Sayed Karim Hashemi, Chairman of the Afghanistan Chamber of Commerce and Investment (ACCI), has traveled to India to participate in the Bharat Buildcon International Exhibition, one of the country’s largest construction and infrastructure expos.
The event brought together officials and business representatives from more than 80 countries, showcasing agricultural, industrial, and construction products across 350 exhibition booths.
On the sidelines of the exhibition, Hashemi held meetings with Indian and international investors, business leaders, and private sector representatives to discuss expanding economic cooperation and investment opportunities in Afghanistan.
He highlighted Afghanistan’s vast reserves of construction raw materials and mineral resources, encouraging Indian and international companies to invest in the country’s mining, construction, and manufacturing sectors.
Accompanied by Afghanistan’s Ambassador to India, Noor Ahmad Noor, and Health Attaché Sayed Emad Hashemi, the ACCI chairman also visited the booths of several leading global companies.
During his visit, Hashemi toured a major traditional medicine manufacturer and emphasized the importance of expanding bilateral trade in medicinal herbs and agricultural products between Afghanistan and India.
He noted that growing demand for construction materials, combined with Afghanistan’s abundant natural resources, positions the country as an attractive destination for foreign investment, particularly from Indian companies.
Business
Afghanistan and Kazakhstan seal 25 private sector MoUs for cooperation
Business
Trans-Afghan Railway cost surges to over $7 billion as regional interest grows
The project includes approximately 760 kilometers of new railway construction inside Afghanistan, between Mazar-e Sharif and Torkham.
The estimated cost of the proposed Trans-Afghan Railway linking Uzbekistan, Afghanistan and Pakistan has risen to more than $7 billion, according to Uzbek Deputy Minister of Transport Jasurbek Choriyev.
Speaking at the Tashkent International Investment Forum on June 18, Choriyev said the updated figure reflects ongoing technical assessments and the evolving scope of the project. Earlier estimates had placed the cost at around $4.8 billion.
He noted that a detailed feasibility study for the strategic railway is currently underway and is expected to be completed by the end of 2026.
Strategic regional corridor
The Trans-Afghan Railway is planned to establish a direct rail link from Termez in Uzbekistan through Mazar-e Sharif, Logar, Kharlachi and Torkham in Afghanistan, before continuing into Pakistan and connecting with major ports including Karachi.
The project includes approximately 760 kilometers of new railway construction inside Afghanistan, between Mazar-e Sharif and Torkham.
According to officials, the railway is expected to significantly reduce transport time between Central Asia and Pakistan—from around 35 days to as little as three to five days—while also lowering logistics costs.
Trade and cargo capacity
Choriyev said the railway could handle up to 20 million tons of cargo annually, doubling earlier estimates of 10 million tons.
He added that the corridor would provide Central Asian countries with faster access to global maritime trade routes and strengthen economic links between South Asia, Central Asia and CIS states, where combined trade exceeds $700 billion.
Officials also estimate that container transport costs along the route could be reduced by nearly three times compared to existing logistics pathways.
Financing and international interest
The deputy minister confirmed that several countries, including the United Arab Emirates and Qatar, have expressed interest in participating in the project. The Eurasian Development Bank has also indicated readiness to support financing.
Uzbek officials have been promoting the railway as a long-term strategic infrastructure project aimed at boosting regional connectivity and trade integration. While feasibility work continues through 2026, final investment and construction decisions are expected to follow upon completion of the study.
The project is widely seen as a key component of efforts to transform Afghanistan into a transit hub linking Central and South Asia.
-
Business5 days agoAfghanistan signs $67 million contract for cement production in Samangan
-
Saar4 days agoSaar: Trump’s remarks on US military equipment in Afghanistan discussed
-
Health5 days agoPolio cases in Afghanistan rise to six in 2026 as two new cases confirmed
-
Latest News5 days agoTrump says US may seek return of military equipment left in Afghanistan
-
Latest News4 days agoKhalilzad calls for Afghanistan-Pakistan dialogue after airstrikes
-
International Sports5 days agoMessi hat-trick powers Argentina to 3-0 victory over Algeria in World Cup opener
-
International Sports5 days agoFIFA, TikTok and Atlanta unite to tackle hate speech ahead of World Cup clash
-
World5 days agoThe 14-point US-Iran pact as read by US official
