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Rah-e-Abrishum Connects Afghanistan to Biggest Business World Way

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(Last Updated On: October 25, 2022)

RAH

After the establishing of the big business way of rah-e-abrishum located in north-eastern part of the country, Afghanistan will be connected to the World biggest trade markets.

Most of the economy experts believed that the following high way will enable Afghanistan to decrease the price of imported goods and increase exporting to foreign countries..

Afghan Officials and China have agreed to open up the traditional trade way named Rah-e-Abrishum which connects Afghanistan to the world business markets, claiming by establishing of the such highway it will create thousands of jobs opportunities directly and indirectly and it will also end up to boost and accelerate the economy cycles in the country.

Afghan economy expert Azarakhsh Hafizi believed that after establishing of such trade way several types’ goods from Afghanistan will be exchanged to China markets, it will also accelerate the production of goods to move forwards within the country.

Afghanistan experiences much difficulties while importing china goods in from different ways to the country, there is also no trusts for safety and security of goods and life of Afghan traders the other Afghan economy expert Kako jan Niazai claimed.

Establishing of the following highways will enable Afghanistan to build its infrastructures installations within the country, and Afghanistan will also need some raw materials to be imported from China and exchanging of goods in between the two countries.

 

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Afghan assets moved to Swiss bank generate $36 million: Ahadi

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(Last Updated On: November 25, 2022)

The $3.5 billion in Afghan central bank assets that were transferred to a Swiss-based trust fund have generated $36 million interest, Anwar-ul-Haq Ahadi, a member of the fund’s board said this week.

Speaking in an exclusive interview with Ariana News, Ahadi said that there have been no disbursments since the fund was created in recent months.

“It has been put in circulation over the last few months. It has generated $36 million interest which are added to the assets. But it is possible that there will be disbursements in the future,” Ahadi said.

The former Afghan central bank chief and former finance minister also suggested that the assets could also be used to provide liquidity to the banking system in Afghanistan.  

“We want to reach an understanding in this regard with the central bank and the finance ministry,” he said.

Ahadi said that the main purpose of establishing the fund is preserving the central bank’s assets.

“After Afghanistan’s relations with the world become normal, the assets will be transferred to the central bank,” Ahadi added.

The $3.5 billion forms part of an original $7 billion being held in the United States following the Islamic Emirate of Afghanistan’s (IEA) takeover in August 2021.

No representative of the central bank is in the board managing the fund. Ahadi said that an advisory committee that will be created later and it will likely have represetnative of the central bank.

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IEA says ground paved for the implementation of major economic projects in Afghanistan

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(Last Updated On: November 25, 2022)

The Islamic Emirate of Afghanistan (IEA) says all grounds have been paved for the implementation of huge economic projects in the country.

The Islamic Emirate officials have recently said that they are taking steps to start big economic and regional projects in the country.

According to them, the government is fully prepared to implement all major economic projects, including the transfer of 500 KV power lines, TAPI, and CASA-1000 projects that lead to regional connectivity.

The IEA spokesman Zabihullah Mujahid has emphasized that measures have been taken to implement these projects and to establish a railway between Central and South Asia.

“The Islamic Emirate has taken all the necessary preparations for the completion of these projects, including 500 KV power lines, TAPI and CASA-1000 projects,” said Mujahid.

“In terms of security, the number of employees and duties related to the government, the preparations have been made complete,” he added.

According to Mujahid, the government is waiting for the countries involved in these projects to show full readiness.

Meanwhile, the members of the private sector also call on the Islamic Emirate to increase its efforts to implement large economic projects, adding that the process of supporting these projects can get the country out of the economic crisis.

Economic experts meanwhile still consider regional economic projects as necessary to improve the country’s economy and demand serious attention from the government in this sector.

In the past years, the lack of security was said to be one of the biggest challenges to the implementation of immense economic projects in Afghanistan, but after the Islamic Emirate’s takeover, the problem has been resolved.

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Afghanistan gets new microfinance scheme

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(Last Updated On: November 24, 2022)

The UN Refugee Agency (UNHCR) along with the Aga Khan Development Network’s First MicroFinanceBank-Afghanistan (FMFB-A), have launched a new microfinancing scheme to assist internally displaced people, returnees, and residents of host communities engaged in small business activities.

The scheme, which is Islamic and Sharia financing compliant, is a joint initiative to help small businesses, particularly women-run enterprises.

This is UNHCR’s first microfinance initiative in Afghanistan aiming to benefit the most vulnerable people as they move into productive economic activities, a statement issued by the agency reported.

The scheme is initially being rolled out by First MicroFinanceBank in five provinces, Balkh, Bamiyan, Herat, Kabul, and Nangarhar and will expand to other locations where FMFB-A maintains branches, the statement noted.

“Afghans, particularly women, are striving to support their households with very marketable skills and abilities,” declared UNHCR Representative Leonard Zulu. “This initiative will help individuals get a firm foothold on the business ladder and establish themselves, while delivering more economic vitality to their communities.”

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