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IEA opposes establishment of new fund to handle frozen assets

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Afghanistan’s central bank, Da Afghanistan Bank (DAB), has slammed Washington’s decision to create a new international financing mechanism to distribute $3.5 billion worth of Afghanistan’s frozen assets, claiming the move was “unacceptable”.

On Wednesday, the US State Department announced that Washington, in coordination with international partners including the Government of Switzerland and Afghan economic experts, has established the Afghan Fund, which will see the money transferred to a Swiss bank.

On Thursday, DAB issued a statement asking for the decision to be reconsidered.

“Da Afghanistan Bank has measured any decision regarding the allocation, use or transfer of these reserves to achieve unrelated goals as unacceptable and requested [the US] to be reconsider it,” the statement said.

“Da Afghanistan Bank’s foreign exchange reserves are the property of the Afghan people and have been used for many years in the light of the law to maintain monetary stability, strengthen the financial system and facilitate trade with the world.

In a press briefing on Wednesday night, State Department spokesman Ned Price said: “Today, the Department of State and the Department of the Treasury, in coordination with international partners including the Government of Switzerland and Afghan economic experts, announced the establishment of a fund to benefit the people of Afghanistan.”

“This fund will protect and preserve the Afghan central bank reserves, while making targeted disbursements to help stabilize Afghanistan’s economy and, ultimately, support its people and work to alleviate the worst effects of the humanitarian crisis,” he said.

He stated the Islamic Emirate of Afghanistan (IEA) is “not a part of this financing mechanism and resources disbursed will be for the benefit of the Afghan people, with clear safeguards and auditing in place to protect against diversion or misuse.”

He said however that the Afghan Fund is “explicitly not intended to make humanitarian disbursements. The Afghan Fund itself is to facilitate macroeconomic stability inside Afghanistan.”

“This is not what that fund is for. This fund is to provide macroeconomic stability in Afghanistan that will enhance the effectiveness of humanitarian assistance from the United States and other donors.”

Former president of Afghanistan, Hamid Karzai, also disagreed with the decision and said any move to transfer the money to a third country was unacceptable and the assets should remain the "national treasure of the people" of Afghanistan.

Some experts however believe that by transferring the money to a fund of this nature is opening the way for wastage and the Afghan people will ultimately pay the price.

“From my point of view, the decision of the US government is very cruel to the Afghan national bank and Afghans should not be treated this way,” said Taj Mohammad Talash, an economic analyst.

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Human traffickers should be sentenced to 1 to 3 years in prison: IEA leader

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The Leader of the Islamic Emirate has issued a decree instructing the Ministry of Interior Affairs to prevent human trafficking and to arrest and refer culprits to military courts.

The decree containing six articles says that that military courts should sentence human traffickers to one year in prison for the first time, two years if repeated for the second time and three years if repeated for the third time.

The ministries of Hajj, information, telecommunications, borders, propagation of virtue, as well as religious scholars are asked to inform the public about the dangers and adverse consequences of travelling through smuggling routes.

The decree comes as the rate of migration has increased following the political change in Afghanistan in 2021.

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Eight Afghan migrants die as boat capsizes off Greek island

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Eight Afghan migrants died after a speedboat carrying migrants capsized off Greece's eastern island of Rhodes on Friday, the Associated Press reported.

Greek authorities said that the capsizing was the result of the boat’s maneuvering to evade a patrol vessel.

A total of 18 migrants — 12 men, three women and three minors — all Afghan nationals, were rescued, Greece's coast guard said Saturday. The dead were also from Afghanistan, it said.

Some migrants remained hospitalized, with one in critical condition, authorities said.

Two Turkish citizens, ages 23 and 19, were arrested as the suspected traffickers. The boat sank after capsizing, the coast guard said.

The sinking off Rhodes was the second deadly incident involving migrants in the past week.

Seven migrants were killed and dozens were believed missing after a boat partially sank south of the island of Crete over the weekend — one of four rescue operations during which more than 200 migrants were rescued.

 

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Norwegian Chargé d’Affaires meets with IEA deputy foreign minister

Welcoming the diplomat’s visit to Kabul, Stanikzai underscored the importance of political relations between Afghanistan and Norway, the foreign ministry said in a statement.

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The Norwegian Chargé d’Affaires for Afghanistan, Per Albert Ilsaas, on Saturday met with IEA’s Deputy Foreign Minister for Political Affairs, Sher Muhammad Abbas Stanikzai, in Kabul.

Welcoming the diplomat’s visit to Kabul, Stanikzai underscored the importance of political relations between Afghanistan and Norway, the foreign ministry said in a statement.

In addition to focusing on bilateral political, humanitarian, and other pertinent issues, the two sides expressed hope that continued engagement would lead to constructive solutions to related issues.

This comes two weeks after the Foreign Ministry Spokesman Abdul Qahar Balkhi expressed disappointment regarding the decision by the Norwegian government to downgrade diplomatic relations with Afghanistan.

Balkhi said in a post on X that such decisions should not be linked with internal affairs of other countries.

“Diplomatic engagement is most effective when it fosters mutual understanding and respect, even amidst differing viewpoints,” he stated.

“Access to consular services is a fundamental right of all nationals. We strongly urge all parties to prioritize this principle in the spirit of international cooperation,” he added.

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