Business
Construction Companies Seek Standard Banking Services
Some representatives of private construction companies and Banks have gathered in Kabul on Sunday to find ways of accessing standard banking services saying despite of enormous construction development made in the past years in Afghanistan, still challenges on standard Banking services remain as obstacle.
Minister of Urban Development and Housing Sayed Sadaat Mansour Naderi said, “The private and Governmental Banks are having valuable trusts, they can provide long term 10 or 20 years of loans for the housing applicants and the construction companies and reverse they can gain more benefits from the services.”
Minister of Public works Mahmood Baligh has declared several issues as main barriers for the private construction companies, lack of cash, high rate of bank interests, no insurance.
He said, “Banks has been playing poor role in providing loans for the construction companies, amid the construction companies are supporting financially the construction development by their own money.”
Meanwhile members at Afghanistan Banks Association (ABA) have declared the main challenges which are no Banking guarantees and insecurity demanding the Government to in place a proper policy for accessing loans.
Chairman of the Afghanistan Banks Association Najeebullah Amiri said, “One of the main obstacles for giving loans in Afghanistan is to receive back the loans on the determined date, our National businessmen were blackmailed and their identities were misused, some individuals who were not holding business positions received loans from the Banks where it rose the risks of receiving loans from the Banks.”
Based on the estimation, the Afghanistan Banks Association has provided $ 42 billion loans that 208 million Afghani loans were given to the provide construction companies which indicates only 2 percent of financial supports.
Reported by: Lida Naizi
The Ministry of Commerce and Industry said Thursday it has signed cooperation agreements with ten institutions to support the development of small and medium-sized enterprises.
Nooruddin Azizi, Acting Minister of Commerce and Industry, said: “In the implementation of projects, we must pay special attention to our activities and actions and try to make useful use of the projects according to the requirements and benefit the beneficiaries.”
These ten institutions are to present their projects, the total value of which is around over $1.1 million. The projects will be carried out in Kabul, Baghlan, Ghor, Herat, Logar, Nangarhar, Balkh, Badakhshan and Jawzjan provinces and provide direct jobs for about 1,000.
To date, the ministry has signed MoUs for 72 projects in total, collectively valued at about $53.6 million.
These agreements have been signed with domestic and foreign companies for the establishment of small and medium-sized businesses.
In accordance with the principles and laws of the Islamic Emirate and prioritizing the implementation of projects for immigrants and returnees and internally displaced people, the ministry said 635,865 people will benefit through jobs directly and over 4.3 million will benefit indirectly in 25 provinces once these projects are implemented.
The National Statistics and Information Authority (NSIA) confirmed Tuesday that in the last month of solar year 1402, (March 2024) Afghanistan’s exports totaled $141.1 million and imports totaled $789.6 million.
This was down from $174 million for exports in the same period in 1401. However, imports increased by $99.2 million in 1402, up from $690.4 million.
Most exports in the last month of 1402 went to Pakistan, India and the United Arab Emirates, while in the last month of 1401 exports went to Pakistan, India and China.
The Ministry of Interior said the governor of Herat province Islam Jar met with Alim Khan Yasin Gildaye, Ambassador of Kazakhstan to Afghanistan, to discuss various issues around trade.
According to the ministry, the two sides discussed the expansion of trade facilities, increasing the volume of trade exchanges between traders of the two countries, reducing customs tariffs, solving the challenges of traders and issuing visas to them.
The Afghanistan-Kazakhstan Chamber of Commerce has been opened in Herat in order to facilitate and increase trade between the two countries.
IEA urges World Bank to resume work on 7,000 incomplete projects
Ten people killed by floods in Helmand
Rashid Khan threatens BBL pullout after Australia postpones Afghanistan T20I series
UN envoy meets Indian foreign minister to discuss Afghanistan
Traffic accident leaves one dead, four injured in Herat
ATN secures TV and digital rights to broadcast IPL 2024 in Afghanistan
Blinken meets with Saudi Crown Prince to discuss Gaza
Afghanistan and India play out goalless draw in FIFA World Cup Qualifiers
Dead body of Quran-burner found in Norway
ATN secures rights to produce, broadcast second season of KPL
Tahawol: China’s call for inclusive government in Afghanistan
Saar: UN’s report on poverty in Afghanistan discussed
Tahawol: Russia and Tajikistan hold joint military drills along Afghanistan border
Saar: Anti-corruption efforts & better public services discussed
Tahawol: Abdul Kabir’s recent remarks discussed
-
Sport4 days agoACL fever grows as fixtures finalized
-
World5 days agoUS will not take part in any Israeli retaliatory action against Iran
-
Latest News4 days agoOver 50 people dead in traffic accidents over Eid
-
Latest News4 days agoUS identifies Kabul airport suicide bomber
-
Business4 days agoAfghanistan-Kazakhstan chamber of commerce opens in Herat
-
Latest News5 days agoGood rains enable DABS to increase power production in Kabul
-
World4 days agoIsraeli military vows response to Iran attack as calls for restraint mount
-
Sport2 days agoATN secures exclusive rights to broadcast Paris 2024 Olympics