Business
Afghan Private Banks Responsible to Respect Islamic Banking System
Officials in Afghanistan Central Bank has urged that private banks are responsible to activate Islamic banking section in Afghanistan.
They have said, “we have drafted a chapter of 46 articles on Islamic banking soon we will send it to Afghanistan parliament for further confirmation and approval.”
During a session which held by the cooperation of Afghanistan central Bank and Harakt-i- Roze NGO in Kabul, in the following session Islamic Banking experts and the Afghanistan central Bank officials have exchanged their points view on Islamic banking sectors to be activated in all private banks.
At the end of their session, they have mentioned that the article 23 in the Islamic banking law indicates that Islamic banking sections should be activated within the Private Banks across the country.
Acting Head of the Central Bank Khan Afzal Hada wal said,” we hope to draw more investments by approving Islamic Banking law in the country,he also warned those banks don’t activate Islamic banking sections within their banks according to the law it will be closed.”
He also said,” the following law to be approved and confirmed and signed in coming September 2015, he urged that most of the people in Afghanistan don’t use Banks because of its profits which is not lawful.”
General head of the Private Banking Union Ahmad Sear Quriashi said,” this is a positive step towards Private banking we welcome it,it seems that most of the Afghans are interested into Islamic banking system.”
He also mentioned that there 15 private banks are working across the country, among those 8 of them respecting Islamic banking system where 2 $ billion is being circulated in the Islamic banking section.
Reported by Nimatullah Ahmadi
The press office of the Herat governor has announced the export of Afghanistan’s first shipment via the Khaf-Herat railway to Europe.
According to a statement from the office, the shipment includes 200 tons of dried fruits worth $1.2 million, which were exported to Turkey and Europe through the Khaf-Herat railway in the presence of Islam Jar, the governor of this province, and the Iranian Consul General.
The exported dried fruits in this shipment include pistachios, raisins, almonds, and pine nuts.
The statement added that over the past three months, more than 35,000 tons of goods have been transferred via the Khaf-Herat railway.
Business
Russia’s LPG exports to Afghanistan boom as Europe shuns it
The exports to Afghanistan, the main consumer of Russia’s LPG in the region, rose by 52% for the period to 71,000 tons.
Russia’s exports of liquefied petroleum gas (LPG) to Afghanistan and ex-Soviet states in Central Asia have jumped following introduction of European Union sanctions against Moscow at the end of 2024, industry sources said on Wednesday, Reuters reported.
The European Union’s sanctions against Russia’s LPG over the war in Ukraine took effect on December 20. The restrictions were proposed last year by Poland, one of Russia’s largest LPG importers.
LPG, or propane and butane, is mainly used as fuel for cars, heating and to produce other petrochemicals.
According to the industry sources, railway supplies of LPG from Russia’s plants, including the Kazrosgas joint venture with Kazakhstan, jumped to the region by 80% year on year in January – February to 140,000 metric tons, read the report.
The exports to Afghanistan, the main consumer of Russia’s LPG in the region, rose by 52% for the period to 71,000 tons.
Traders expect great scope for more supplies to Afghanistan, where annual demand for LPG is seen at around 700,000 tons per year.
Acting Minister of Industry and Commerce Nooruddin Azizi and Zhao Xing, the Chinese Ambassador to Kabul, met on Tuesday and discussed increasing Afghanistan’s exports to China, particularly pine nuts, pomegranates, and precious and semi-precious stones such as nephrite, onyx, lapis lazuli, and talc, the ministry said in a statement.
According to the statement the goal of the meeting was to facilitate direct exports to China in order to reduce transit costs and transportation of Afghan goods, as well as to address the importation of machinery needed for the country.
Azizi and Zhao have agreed to establish a joint working group for further coordination, expanding trade relations, and creating facilities for trade, with the aim of holding regular meetings, the statement read.
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