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Private banking sector sees significant growth, says DAB
Da Afghanistan Bank (DAB) announced on Saturday that there has been a significant improvement in the financial and economic condition of the country’s private banks.
According to officials at DAB, the country’s central bank, over the past year, the assets of the country’s private banks have increased by 15 billion afghanis, and in addition to a 71 percent rise in financial resources compared to the previous year, bank guarantees worth nearly 22 billion afghanis have also been issued.
They added that a total of 12 banks are currently operating in the country: three are state-owned, two are representative offices of foreign banks, and the remaining seven are privately owned.
“Over the past year, bank guarantees worth nearly 22 billion afghanis have been issued. We are striving to bring significant progress to the banking sector so that it aligns with international standards. Over the past year, we have also succeeded in reducing banking restrictions,” Hasibullah Noori, spokesperson for DAB.
Meanwhile, some private sector members, while recognizing improvements in banking services, have urged the central bank to intensify its efforts in expanding the banking sector and promoting electronic banking to ensure greater speed and transparency.
“The condition of Afghanistan’s private banks has improved compared to three years ago. Banking services are now available to people across the country, and this process continues to expand,” said Zabihullah Nazari, a member of the Chamber of Industries and Mines.
However, some economic analysts, while acknowledging the importance of the banking sector’s activities in the country, have noted that Afghanistan’s private banks still face challenges in dealing with customers in certain areas. They have called for increased oversight of private banks’ operations.
Officials from the central bank emphasized that they provide organized services to private banks across the country and are working to deliver standardized financial and banking services to the nation’s citizens.
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Afghan and Iranian officials discuss expanding economic cooperation
Ahmad Jan Bilal, General Director of State-Owned Corporations, met on Tuesday with Iran’s Ambassador to Kabul, Ali Reza Bikdeli, to discuss expanding bilateral economic cooperation and following up on issues raised during his recent visit to Iran.
According to a statement from the General Directorate of State-Owned Companies, the meeting focused on reviewing ways to implement discussions held with Iranian officials during Bilal’s visit.
Bikdeli described the visit as positive and productive, stressing the importance of following up on the issues discussed and taking practical steps to advance bilateral cooperation.
He said Iran is ready to cooperate with Afghanistan in oil and gas exploration, extraction and exports, refinery construction, agriculture, water and electricity.
Bilal, for his part, said the Islamic Emirate is interested in expanding joint cooperation with Iran in energy, agriculture, industrial development and other economic sectors. He added that his office would work with the Iranian side to turn the proposed areas of cooperation into practical initiatives.
Bilal also reaffirmed his office’s commitment to following up on the issues discussed during his recent visit to Iran and working towards their implementation in coordination with Iranian officials.
Bilal recently visited Iran at the head of a delegation, holding talks with several Iranian officials on expanding economic, trade and investment ties, particularly in the state-owned companies sector.
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Ariana Airlines reduces Kabul–Islamabad–Kabul airfares by $20
Ariana Afghan Airlines announced on Tuesday a reduction in ticket prices for flights on the Kabul–Islamabad–Kabul route from $190 to $170.
According to the airline, passengers can now purchase tickets for this route at $20 less than the previous fare.
The airline has also set a special fare of $150 for students travelling on this route.
Ariana Afghan Airlines said the move aims to reduce travel costs and make air travel more affordable and accessible for passengers and students.
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Afghanistan and Russia discuss expanding economic ties and boosting bilateral trade
During the meeting, Muttaqi stressed that Afghanistan and Russia should expand economic cooperation based on shared interests and mutual benefits.
Afghanistan’s Foreign Minister Amir Khan Muttaqi has met with Zamir Kabulov, Russian President’s Special Representative for Afghanistan, to discuss strengthening bilateral relations, expanding economic cooperation and increasing trade between the two countries.
During the meeting, Muttaqi stressed that Afghanistan and Russia should expand economic cooperation based on shared interests and mutual benefits.
Kabulov, meanwhile, praised the Islamic Emirate’s efforts to combat drug trafficking and cultivation, saying reports by some international organisations on the issue do not reflect the realities on the ground.
Muttaqi reiterated that the Islamic Emirate remains committed to combating drug cultivation, production and trafficking, describing these efforts as important for the security and stability of both Afghanistan and the wider region.
The meeting comes amid continued efforts by Kabul and Moscow to strengthen diplomatic and economic engagement and explore opportunities for broader bilateral cooperation.
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