Business

Remittance biggest way of money laundry in Afghanistan: IWA

Published

8 years ago

April 22, 2016

(Last Updated On: October 25, 2022)

Officials in Integrity Watch of Afghanistan IWA said the biggest way of money laundering is to transfer money through remittances Nationwide.

The recent report released by the Integrity Watch of Afghanistan indicating that one of the ways where huge numbers who are trying to get exempted paying taxation transfer money through remittances.

One of the priorities of the National Unity Government is to combat corruption where the officials couldn’t gain significant achievements on the aspect in the past years.

Part of the report explains that 65 percent of Afghanistan currency is wasted through money laundry, exemption of taxation, and using remittances.

In the report it is mentioned that about $70 billion came from Narcotic drug and has been injected within the markets.

Different factors which expands corruption within the country are as follows

1- Exemption to pay tax

2- Construction phase

3- Excavation industry

4- Hiding workers identity by the Business companies in order not to pay taxes.

5- Only 20 businessmen who are using remittance are registered.

6- $4,5 billion was taken out of Hamid Karzai Airport on 2011.

Professor Sayed Masoud said,” i confirm that insurgents can easily being benefited from such kind of transferring of money, Afghan Government specially the security council is responsible to deal with this situation.”

Officials in Integrity Watch Afghanistan have said ignoring law on remittance has been a suitable way for those who are trying to inject their black money into the markets.

“There is a law for remittance in Afghanistan but unfortunately its being ignored, law makers should read it carefully and obliged the Government to get implemented journalist Reshad Hashimi said,”

Its said that the integrity watch Afghanistan has suggested different things to decrease the illegal money transferring, implementation of the law, clear rules of law from the Government side, improving the way of reporting on remittance.

Reported by Ali Asghari

Business

Azizi calls on Malaysian investors to invest in Afghanistan

Published

1 day ago

April 24, 2024

Ariana News

(Last Updated On: April 24, 2024)

Nooruddin Azizi, Acting Minister of Commerce and Industry, met with representatives from the ministries of foreign affairs, defense and interior of Malaysia, along with other senior officials, on Wednesday and called on Malaysians to invest in Afghanistan.

The visiting delegation is being led by senior diplomat Dr. Shazelina Zainul Abidin.

According to the IEA’s foreign ministry, the two sides discussed bilateral trade, holding a business communication conference to strengthen trade relations between the two countries, the trade balance between Afghanistan and Malaysia, and creating a market for Afghan products, including carpets, cotton, and minerals.

According to the ministry, at the end of the meeting, the Acting Minister emphasized the increase of investment from regional countries in Afghanistan and called on Malaysian investors to also invest in Afghanistan.

Business

Afghanistan starts exporting via railway to Turkey

Published

3 days ago

April 22, 2024

Ariana News

(Last Updated On: April 22, 2024)

The Ministry of Interior says that Afghanistan has started exporting goods to Turkey via the Herat-Khaf railway line.

In a post on X, the ministry said: “Afghanistan’s exports to Turkey started in a calm atmosphere through the Herat-Khaf railway line.”

The ministry added that one train will run daily for a month and then two trains will run daily.

According to the ministry, the security of Khaf-Herat railway line is provided by the guards of the National Public Protection Agency.

Khaf-Herat railway project not only connects Iran and Afghanistan by rail, but also completes a 2,000-kilometer route along the east-west rail corridor from China, through Uzbekistan, to Afghanistan, to Iran, and on to Turkey and Europe.

As a landlocked country, this railway network will provide a safe route to connect with Europe via Iran’s railway network and Iran’s southern ports.

This railway line is strategic for trade between Iran and Afghanistan and will allow six million tons of goods to be sent between the two countries.

Business

Afghanistan, Kazakhstan to hold joint expo in Kabul

Published

4 days ago

April 21, 2024

Ariana News

(Last Updated On: April 21, 2024)

A joint expo between Afghanistan and Kazakhstan will be held in Kabul in the next four days, officials said on Sunday.

Officials of the Ministry of Industry and Commerce said that the two-day expo will be held for the purpose of expanding and strengthening trade relations between the two countries.

“This expo will be held as a follow-up of the Kazakh-Afghan international expo, which was held in the city of Astana, Kazakhstan, with the participation of a large delegation of the government and the private sector of the Islamic Emirate of Afghanistan,” Abdulsalam Javad Akhundzadeh, the spokesman of the Ministry of Industry and Commerce, said.
“At this expo, domestic products from different sectors of Afghanistan and the Republic of Kazakhstan will be put on display for two days.”

According to officials, 40 large Kazakh companies, and 40 large Afghan companies will exhibit their products.

Mohammad Saber Latifi, head of the Afghanistan International Expo Center, said that fruits, minerals and commercial services will be displayed at the expo.

During the expo, various memorandums of understanding for the trade of goods are also expected to be signed by companies.