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IEA discusses easing banking transactions with Kazakhstan

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A delegation of the Islamic Emirate of Afghanistan (IEA) discussed facilitating international financial transactions with private banks on a recent trip to Kazakhstan in a bid to ease the Afghan banking sector’s isolation, the acting commerce minister said.

Nooruddin Azizi, acting Minister of Commerce and Industry, led a business delegation to Kazakhstan last week.

In addition to banking he discussed the possibility of preferential trade tariffs, telecommunications projects and transit routes, including for possible shipments of Russian oil to South Asia, he told Reuters in an interview on Wednesday.

“We had teams from Da Afghanistan Bank (Afghanistan’s central bank) and private banks in Kazakhstan, they discussed and are trying to find good ways to decrease the price of financial transactions … we don’t have any banking limitation with Kazakhstan,” he said.

Afghanistan’s banking sector has been hampered and international transactions severely limited since the IEA administration took over two years ago as foreign forces withdrew.

Some IEA leaders are subject to United Nations and United States sanctions. Many international banks have limited transactions with Afghan banks to reduce risk, economists and diplomats say, contributing to a stall in the financial system.

That has been exacerbated by the United States and other governments freezing Afghan central bank assets held abroad.

Azizi also said transactions that went ahead often incurred expensive fees, sometimes 5% of the transaction, which they hoped to reduce.

Fixing Afghanistan’s banking sector was a priority, he said, adding that there are no sanctions directly on banks. But he acknowledged international financial institutions were not easily facilitating transactions.

“It is the preference of some banks that they don’t want to deal with Afghanistan, they might think the trade volume is low, but for us it is very important,” he said.

The United States has issued exemptions to sanctions for humanitarian operations and at times helped facilitate specific transactions, such as an Afghan central bank payment to European companies to buy fresh bank notes.

But traders and international agencies say normal banking has not been restored, hampering the economy and causing headaches for traders and aid programs.

The United Nations, which uses billions of dollars a year to fund humanitarian operations, has to fly in pallets of cash in physical shipments to Kabul.

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Afghanistan business sector eager to attend Kazan Halal Expo and Forum in Russia

The forum will run from May 13 to 18 and will bring together experts from Russian regions; OIC member states; and other countries

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The Ministry of Industry and Commerce has confirmed that Afghanistan will participate in the XVI (16th) International Economic Forum ‘Russia — Islamic World: Kazan’ and the Kazan Halal Expo in Russia this year.

The forum will run from May 13 to 18 and will bring together experts from Russian regions; the Organization of Islamic Cooperation (OIC) member states; and other countries to discuss various topics during the 120 sessions planned.

The expo meanwhile will showcase thousands of goods from around the world that meet Halal standards.

Abdul Salam Javad Akhundzada, the ministry’s spokesman, said Sunday that Minister of Industry and Commerce Nooruddin Azizi has stated that Afghanistan is ready to participate in the event and showcase Afghan products.

According to Akhundzada, Azizi has discussed the event with members of the private sector who are eager to participate.

The expo, which is held annually alongside the forum, is Russia’s largest trading platform for Muslims.

Russia’s President Vladimir Putin said in a statement on the forum and expo recently that “Russia values its traditionally friendly ties with Muslim countries. We highly appreciate their desire to pursue an independent foreign policy and increase their role in international affairs.

“Together, we stand for the formation of a democratic multipolar world order, based on the rule of law and principles of justice, free from any form of dictatorship and discrimination.

“Of course, we are also committed to expanding mutually beneficial cooperation in all areas, from trade and investment to sports and tourism,” he said.

Putin went on to say “I believe that the work of the forum will be meaningful and constructive as always and will be held in a spirit of openness and trust. It will serve to further promote the friendship and creative partnership between our countries and peoples.”

The forum will bring together experts from Russian regions, the Organization of Islamic Cooperation (OIC) member states, and other countries to discuss:

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Iran exports non-oil goods worth over $2 billion to Afghanistan in 11 months

Afghanistan was Iran’s fifth top export destination between March last year and February this year

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Iran exported non-oil commodities worth $2.2 billion to Afghanistan during the 11-month period from March 20, 2024 to February 18, 2025, the head of Iran Customs Administration (IRICA) said.

Foroud Asgari said Afghanistan was Iran’s fifth top export destination in the mentioned 11-month period, Tehran Times reported Sunday.

In the past year, Afghanistan and Iran have forged closer trade ties. In February, the governors of both central banks met on the sidelines of a banking technology summit in Yekaterinburg, Russia, where they discussed strengthening monetary and banking cooperation.

Also, in October, ports and maritime officials of Iran and Afghanistan met to discuss investment opportunities for the Afghan private sector in Iran’s southeastern Chabahar Port.

Tehran Times reported that this meeting was attended by the director general of the Ports and Maritime Department of Sistan-Baluchestan Province, the governor-general of the province, some Iranian MPs, and officials of the Afghanistan Trade and Industry Ministry.

Meanwhile, in a meeting with an Iranian trade delegation in Kabul last August, Afghanistan’s interim Deputy Prime Minister Mullah Abdul Ghani Baradar Akhund said that his country is eager to attract Iranian investors in order to develop the Afghan mining industry, generate solar electricity and expand railway connectivity.

The Iranian delegation also proposed to launch a joint special industrial zone with Afghanistan.

Afghanistan supplies more than 80 percent of its market needs through imports, and imports from Iran constitute 25 percent of this amount.

The establishment of national security and the central government in Afghanistan over the past two years have improved the conditions of trade between the two countries.

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Trump unveils first $5 million ‘gold card’ visa

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Holding a prototype that bore his face and an inscription “The Trump Card”, the Republican president told reporters that the special visa would probably be available “in less than two weeks”.

“I’m the first buyer,” he said. “Pretty exciting, huh?”

Trump previously said that sales of the new visa, a high-price version of the traditional green card, would bring in job creators and could be used to reduce the US national deficit.

The billionaire former real estate tycoon, who has made the deportation of millions of undocumented migrants a priority for his second term, said the new card would be a route to highly prized US citizenship.

He said in February that his administration hoped to sell “maybe a million” of the cards and did not rule out that Russian oligarchs may be eligible.

(AFP)

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