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Central bank governor says international reserves have not been compromised

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Ajmal Ahmady, Afghanistan’s central bank governor and former minister of industry and commerce, posted a series of tweets on Wednesday stating he wanted to “clarify the location of DAB (Central Bank of Afghanistan) international reserves.” 

He said that DAB reserves were approximately $9.0 billion as of last week but that “this does not mean that DAB held $9.0 billion physically in our vault.”

He said as per international standards, most assets are held in safe, liquid assets such as Treasuries and gold.

He said that DAB was set to receive approximately $340 million on August 23rd from the International Monetary Fund.

“Not sure if that allocation will now proceed with respect to Afghanistan,” he said. 

Given Afghanistan’s large current account deficit, DAB was reliant on obtaining physical shipments of cash every few weeks, he said.

“The amount of such cash remaining is close to zero due to a stoppage of shipments as the security situation deteriorated, especially during the last few days,” he said. 

“On Friday morning, I received a call notifying me that there would be no further USD (US Dollar) shipments,” Ahmady said, adding they were expecting one on Sunday, the day the Taliban took control of Kabul, but that this shipment did not arrive. 

Ahmady said that on Saturday, banks placed very large USD bids as customer withdrawals accelerated.

“For the first time, I therefore had to limit USD access to both banks and dollar auctions to conserve remaining DAB dollars.

“We also put out a circular placing maximum withdrawal limits per customer,” he said. 

He assured Afghans that in no way were Afghanistan’s international reserves ever compromised.

“We had a program with both the IMF and Treasury that monitored assets. No money was stolen from any reserve account,” he said.

However, he stated that given that the Taliban are still on international sanction lists, it is expected that such assets will be frozen and not accessible to Taliban.

“I believe local banks have told customers that they cannot return their dollars – because DAB has not supplied banks with dollars.

“This is true. Not because funds have been stolen or being held in a vault, but because all dollars are in international accounts that have been frozen,” he said. 

“Taliban should note this was in no way the decision of DAB or its professional staff. It is a direct result of the US sanctions policy implemented by OFAC (the American Office of Foreign Assets Control),” he said. 

In conclusion, Ahmady suggested the Taliban implement capital controls and limit dollar access.

Business

Afghanistan, Uzbekistan strengthen ties with $524 million in trade deals

Speaking at the event, Fayez Ahmad Khwafi, Deputy for Provincial Affairs at the Afghanistan Chamber of Commerce and Investment, highlighted the growing importance of economic ties between the two nations.

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Herat has taken a major step forward as a regional trade powerhouse, with 14 commercial agreements worth over $524 million signed during a high-level business conference linking Afghanistan and Uzbekistan.

The conference, held on Tuesday in Herat, brought together senior government officials and influential business leaders from Herat and Andijan, creating a dynamic platform to deepen economic cooperation, unlock new investment opportunities, and strengthen cross-border partnerships.

Speaking at the event, Fayez Ahmad Khwafi, Deputy for Provincial Affairs at the Afghanistan Chamber of Commerce and Investment, highlighted the growing importance of economic ties between the two nations. He pointed to Herat’s strategic position as a gateway for trade, emphasizing the critical role of the Islam Qala and Torghundi ports in driving regional commerce.

Khwafi stressed that continued exchange between business delegations is essential to sustaining momentum, describing the collaboration between Herat and Andijan as a significant move toward expanding bilateral trade and fostering long-term economic growth.

Adding further weight to the initiative, the Governor of Herat welcomed the agreements and confirmed plans for an upcoming delegation visit to Andijan—signaling a commitment to building even stronger relationships with Uzbek investors and traders.

The event drew wide participation from key stakeholders, including the governors of both regions, heads of national chambers of commerce, and a large contingent of private sector representatives.

Officials say the agreements span multiple industries and are expected to deliver a meaningful boost to trade between Kabul and Tashkent, reinforcing a shared vision for stronger regional economic integration.

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Afghanistan–Uzbekistan forum secures $520 million in trade and investment deals

Officials said the agreements include $300 million in investment commitments, $150 million in imports, and $70 million in exports.

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A joint business forum between Afghan and Uzbek private sector representatives in Kabul has resulted in the signing of 38 agreements valued at $520 million, underscoring deepening economic ties between the two neighbours.

Participants at the forum, including traders from Afghanistan and Uzbekistan’s Andijan Region, finalized deals spanning investment, imports, and exports. Officials said the agreements include $300 million in investment commitments, $150 million in imports, and $70 million in exports.

Afghanistan’s Minister of Commerce and Industry, Nooruddin Azizi, said the latest deals add to a growing portfolio of bilateral agreements, with total contracts between the two countries now exceeding $1 billion. He noted that economic relations between Kabul and Tashkent are shifting from dialogue to concrete implementation.

Azizi highlighted Afghanistan’s potential as a key market for Uzbek goods while also stressing the country’s export capacity. He emphasized the importance of joint investment partnerships and reaffirmed government support for both domestic and foreign investors.

The Afghanistan Chamber of Commerce and Investment reported significant progress in recent months, stating that trade agreements worth $1.4 billion have been signed over the past six months, with some already in operation. The chamber estimates that annual trade between the two countries has reached around $1.5 billion.

Officials from Uzbekistan also pointed to expanding cooperation. Shuhratbek Abdurakhmonov said bilateral relations are steadily improving and noted that Uzbek businesses are ready to share expertise with Afghan partners.

Meanwhile, Davron Vakhobov said Uzbek investors are already active across a range of sectors in Afghanistan, including poultry, textiles, food production, furniture, leather goods, energy infrastructure, pharmaceuticals, and construction. He expressed confidence that private-sector collaboration will continue to grow.

Local authorities also encouraged Uzbek investors to explore opportunities in Nangarhar Province, saying favourable conditions have been created to support new investments.

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IEA issues new decree to regulate street vendors, boost urban order

The decree mandates that all municipalities adhere to urban planning standards in managing street vending activities.

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The leadership of the Islamic Emirate of Afghanistan has unveiled a new decree designed to regulate the operations of street vendors in cities across the country. The initiative seeks to create a more organized urban environment while simultaneously supporting small-scale entrepreneurs.

The decree mandates that all municipalities adhere to urban planning standards in managing street vending activities. Municipalities are instructed to designate specific areas for vendors, ensuring they have clearly marked and organized spaces to conduct business. These designated zones will be monitored to ensure compliance with both health and safety standards.

As part of the formalization of the street vending sector, vendors will be required to register and receive identification cards at no cost. The government aims to create a centralized database to track vendors’ personal details, the nature of their businesses, and their exact operating locations. This move is also intended to aid in ongoing monitoring, ensuring vendors comply with regulations and do not sell prohibited or expired goods.

In addition to these registration requirements, the decree stipulates that vendors must adhere to several conditions. These include maintaining cleanliness at their assigned spaces, refraining from selling illegal products, and avoiding the use of loudspeakers to attract customers.

To ensure compliance, the decree includes a system of enforcement. Vendors who violate the rules will first receive a written warning, while repeat offenders risk having their operating rights revoked. Authorities are committed to ensuring the decree’s effectiveness, with ongoing monitoring and corrective actions.

This new regulation represents a significant step in formalizing the street vending sector, supporting small businesses, and bringing a greater sense of order to Afghanistan’s urban areas.

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