Business
Concerns grow over economic situation as Kabul banks remain closed
Afghans on Tuesday warned the ongoing closure of banks will lead to an economic crisis in the country and appealed to the Taliban to get the banks to reopen as soon as possible.
This comes after the Ministry of Finance issued a statement Sunday saying that the banks would reopen on Tuesday.
Members of the public said if banks do not open soon they will start demonstrating.
Banks have been closed for more than a week, following the takeover of the country by the Taliban.
Residents said they kept their money in banks as a safety precaution but are now facing extreme difficulties.
“We put our money in the bank because of thieves, but now that the security is maintained, we cannot withdraw our money,” said Yasmin, one Kabul resident.
“We call on the Taliban to open the banks as soon as possible,” said Abdul Wali Noor, another resident.
“I come every day, unfortunately the banks do not open and it has made us more worried. If the banks do not open, we will hold demonstrations,” said Mohammadi, another Kabul resident.
Another resident said: “I have several months worth of salaries in the bank, but the banks have been closed for 10 days. We are starving to death,” said Abdullah, another resident.
Economists also say that the closure of banks has had a negative impact on food prices.
“They (bank employees) say there is no money, and the cash we had is now finished. Shopkeepers also will not let you borrow money,” said Ahmad Shah, another resident.
However, the Ministry of Finance issued a statement Sunday saying that the banks would reopen on Tuesday, but this has not happened.
This comes after the Taliban appointed an acting director for the Central Bank.
Business
Azizi calls on Malaysian investors to invest in Afghanistan
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
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
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.
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