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Afghanistan central bank raises limit on bank withdrawals to $400 a week
Afghanistan’s central bank has eased restrictions on bank withdrawals, lifting the maximum to $400 from dollar-denominated accounts or 30,000 Afghanis a week from the previous limit of $200 or 20,000 Afghanis, the central bank said on Wednesday.
The change, which sets a monthly limit on withdrawals of $1,200 or 100,000 Afghani, came amid growing economic hardship that has left millions in Afghanistan without work and facing hunger.
Even those with savings have struggled to pay for food and household necessities because of the strict limits on withdrawals that were brought in to prevent a run on banks.
Afghanistan’s foreign exchange reserves have been restricted following the Islamic Emirate of Afghanistan (IEA) take over in August, severely limiting the new administration’s room for financial manoeuvre.
Some $9.5 billion in central bank reserves remain blocked outside the country and international support given to the previous government has dried up.
This week, the IEA banned the use of foreign currencies for transactions like buying a car or a house, saying all contracts must be denominated in the Afghani currency.
The Ministry of Mines and Petroleum of Afghanistan has signed a 30-year agreement with a private company to extract marble in Daikundi province.
Under the contract, the company will invest AFN 283 million in exploring and mining marble at the “Mesh-Uliya” site, spanning 16.74 square kilometers in central Daikundi.
Hedayatullah Badri, Minister of Mines and Petroleum, stated that the marble will be processed domestically before being exported abroad. He added that the Mesh-Uliya project is expected to create around 200 jobs, and the company is committed to supporting local communities through social initiatives.
Economic experts highlight that such investments, especially those focusing on domestic processing, are crucial for job creation, boosting exports, and strengthening the national economy. Analysts further note that the project will improve local infrastructure, expand social services, and enhance the economic and social well-being of Daikundi residents.
Since the return of the Islamic Emirate to power, efforts to develop Afghanistan’s mining sector have intensified, with multiple contracts signed in areas including cement, copper, iron, and lapis lazuli, involving both domestic and international companies.
A passenger bus veered off the Salang Highway before dawn on Sunday, leaving five people dead and 44 others injured, the Ministry of Public Works said.
According to the ministry, the incident occurred at around 2:00 a.m. in the Shawol area of North Salang when a passenger bus deviated from the main road due to the driver’s negligence.
Mohammad Ashraf Haqshenas, spokesperson for the Ministry of Public Works, said five passengers were killed and 44 others sustained injuries. He added that personnel from the Salang Maintenance and Protection Directorate promptly arrived at the scene and transferred the injured to the Khunjān clinic for medical treatment.
The Ministry of Public Works has urged drivers and passengers traveling on the Salang Highway to strictly follow the instructions of on-duty teams, observe traffic regulations, and carry warm clothing, food supplies, and snow chains to prevent similar incidents.
The ministry also noted that heavy snowfall and stormy weather have led to the temporary closure of the highway, while road maintenance teams are continuing snow-clearing operations.
Latest News
Major fire in Mandawi Kabul market contained, extensive losses prevented
Local shopkeepers said the fire broke out around 4 a.m.
The Ministry of Interior reported that personnel from the General Directorate of Firefighting and Emergency Response successfully prevented the further spread of a fire at Mandawi market on Kabul early Sunday morning.
Abdul Mateen Qani, spokesperson for the ministry, said that the fire destroyed 10 storage facilities and 8 shops. He added that initial losses are estimated at around $700,000, but timely action by firefighting personnel saved property worth approximately $2.2 million.
Qani explained that the fire was caused by an electrical short circuit. He praised the rapid and effective containment operations, which prevented more extensive damage.
Local shopkeepers said the fire broke out around 4 a.m.
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