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IEA opposes establishment of new fund to handle frozen assets

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Afghanistan’s central bank, Da Afghanistan Bank (DAB), has slammed Washington’s decision to create a new international financing mechanism to distribute $3.5 billion worth of Afghanistan’s frozen assets, claiming the move was “unacceptable”.

On Wednesday, the US State Department announced that Washington, in coordination with international partners including the Government of Switzerland and Afghan economic experts, has established the Afghan Fund, which will see the money transferred to a Swiss bank.

On Thursday, DAB issued a statement asking for the decision to be reconsidered.

“Da Afghanistan Bank has measured any decision regarding the allocation, use or transfer of these reserves to achieve unrelated goals as unacceptable and requested [the US] to be reconsider it,” the statement said.

“Da Afghanistan Bank’s foreign exchange reserves are the property of the Afghan people and have been used for many years in the light of the law to maintain monetary stability, strengthen the financial system and facilitate trade with the world.

In a press briefing on Wednesday night, State Department spokesman Ned Price said: “Today, the Department of State and the Department of the Treasury, in coordination with international partners including the Government of Switzerland and Afghan economic experts, announced the establishment of a fund to benefit the people of Afghanistan.”

“This fund will protect and preserve the Afghan central bank reserves, while making targeted disbursements to help stabilize Afghanistan’s economy and, ultimately, support its people and work to alleviate the worst effects of the humanitarian crisis,” he said.

He stated the Islamic Emirate of Afghanistan (IEA) is “not a part of this financing mechanism and resources disbursed will be for the benefit of the Afghan people, with clear safeguards and auditing in place to protect against diversion or misuse.”

He said however that the Afghan Fund is “explicitly not intended to make humanitarian disbursements. The Afghan Fund itself is to facilitate macroeconomic stability inside Afghanistan.”

“This is not what that fund is for. This fund is to provide macroeconomic stability in Afghanistan that will enhance the effectiveness of humanitarian assistance from the United States and other donors.”

Former president of Afghanistan, Hamid Karzai, also disagreed with the decision and said any move to transfer the money to a third country was unacceptable and the assets should remain the “national treasure of the people” of Afghanistan.

Some experts however believe that by transferring the money to a fund of this nature is opening the way for wastage and the Afghan people will ultimately pay the price.

“From my point of view, the decision of the US government is very cruel to the Afghan national bank and Afghans should not be treated this way,” said Taj Mohammad Talash, an economic analyst.

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Islamic Emirate’s army now self-sufficient, says chief of army staff

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Mohammad Fasihuddin Fitrat, Chief of General Staff of the Armed Forces, says that over the past four years, the army forces of the Islamic Emirate have shown no hesitation in defending and protecting Afghanistan, and that today the country’s army is standing on its own feet.

According to a statement from the Ministry of Defense, Fitrat made these remarks at a meeting with media representatives, political analysts, and a number of government officials aimed at coordination and strengthening cooperation. He added: “Nations that cannot stand on their own feet and rely on others, even if they grow, will not be capable of achieving real progress.”

Fitrat also expressed appreciation for the role of the media in ensuring security and in supporting the country’s defense forces, stating: “We and you, as citizens of this land, must put our hands together and build the country together, take pride in our forces, and strive with all our strength for the country’s development. We have created an army that defends honor, territorial integrity, and the borders of the country, and serves as the guardian of our freedom.”

He emphasized that the Islamic Emirate is working to establish an army equipped with modern weapons so that it can defend the country’s territory under all circumstances.

He stated that the country’s army has proven to the people that anyone who looks at this land with ill intent will face a firm and courageous response, and that it has also been made clear to neighboring countries that any aggression against Afghanistan will be met with a response several times stronger.

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Afghan health minister attends second WHO summit in India

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Noor Jalal Jalali, the Minister of Public Health of the Islamic Emirate, participated in the second World Health Organization meeting on traditional medicine during his official visit to India.

In a statement issued on Thursday, the Ministry of Public Health said that the meeting was held in India with the participation of representatives from around 100 countries, health ministers from 23 countries, professional experts from various nations, and officials from different departments of the World Health Organization.

During the meeting, discussions were held on the standardization of traditional medicine, training of individuals active in this field, recognition of traditional medicine as an established reality, and the sharing of countries’ experiences in this area.

The ministry stated that the purpose of participating in the conference was to standardize traditional medicine in Afghanistan, adding that for several decades this sector has been practiced in a non-standard manner and without a defined curriculum or clear principles.

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Afghanistan and Kyrgyzstan boost trade and digital finance ties

Minister Sydykov, in turn, pledged the continuation of Kyrgyzstan’s humanitarian assistance to Afghanistan and highlighted his country’s interest in working together on e-governance initiatives.

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Afghanistan’s Deputy Prime Minister for Administrative Affairs, Abdul Salam Hanafi, has met with a high-level Kyrgyz delegation led by Minister of Economy and Commerce Bakhyt Sydykov to discuss expanding bilateral trade and strengthening cooperation in digital financial services.

During the meeting, Hanafi reaffirmed Afghanistan’s readiness to deepen ties with Kyrgyzstan, stressing the importance of developing electronic administration systems and modern banking channels to facilitate trade and financial transactions between the two countries.

Minister Sydykov, in turn, pledged the continuation of Kyrgyzstan’s humanitarian assistance to Afghanistan and highlighted his country’s interest in working together on e-governance initiatives. He also pointed to potential cooperation in areas such as the printing of securities and the development of electronic payment systems.

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