Connect with us

Business

Insecurity Undermines Private Banking in Afghanistan

Published

on

(Last Updated On: )

3

Officials says if the insecurity continues it will financially damage the private banking system in the country.

Economy experts have confirmed the issue saying the private banks are experiencing serious problems while collecting the loans, because the properties were given to the Bank as guarantee the price has significantly came down that means ongoing insecurity has impacted badly.

Economy expert Zaiulhaq Zai said,” Da Afghanistan Bank should have regularly continued its supervisions on the pricing of the properties given to the Banks as loans, now the properties prices has indeed come down.”

Members at Private Union Bank urged that having no Institution to stabilize the property values have caused the private Banks to pay the prices now, if the war doesn’t end, Private Banks will definitely grow.”

Head of the Private Union Bank Najibullah Amiri said,” We face issues while collecting our loans, this has become general issue, there is no institution in Afghanistan to determine the values of the properties this way some of the Banks will financially damage.”

Meanwhile officials in Da Afghanistan Bank have rejected all the allegations for not having regular supervision.

Da Afghanistan Bank Spokesman Emal Ashoor said,” Our supervision continues, we refuse all the concerns about Private Banks.”

There are 15 private Banks are active in the country where half of the Banks are foreign Banks.

Reported by: Aslam Hejaab

Advertisement

Business

Efforts underway to expand Afghanistan’s trade relations with India

A number of investors also suggest that the Islamic Emirate should actively participate in regional and trade fairs to increase exports, so that Afghan products can be marketed in regional and global markets.

Published

on

(Last Updated On: )

The Ministry of Industry and Commerce says that efforts are underway to expand trade relations with India, the volume of which reaches $650 million annually.

Abdulsalam Jawad Akhundzada, a spokesman for the Ministry of Industry and Commerce, says that India is also interested in expanding trade relations with Afghanistan, and Kabul has also taken steps in this regard by using Chabahar Port, and talks have been held with the Indian side on visas.

The Chamber of Commerce and Investment also says that trade relations between Afghanistan and India are expanding and these relations are strengthening with each passing day. According to officials of the chamber, Afghanistan has exported goods worth $500 million to India in the past year.

A number of investors also suggest that the Islamic Emirate should actively participate in regional and trade fairs to increase exports, so that Afghan products can be marketed in regional and global markets.

According to investors, once the visa issues with India are resolved, a large portion of the country’s fresh and dried fruits will be exported to India because India is a good market for Afghan fruits in the region.

Investors want the Islamic Emirate to pave the way for increased exports to India through Chabahar Port.

Continue Reading

Business

36 mining contracts inked over the past year: Mines ministry

Published

on

(Last Updated On: )

The Ministry of Mines and Petroleum says it has signed 36 large and small mining contracts, with a total value of $1.3 billion over the past year.

Officials from the ministry stated that these contracts include 10 large mines, 25 small mines, as well as projects related to cement, salt, marble, and a major gas extraction contract with Uzbekistan, all signed with both domestic and foreign companies.

Meanwhile, economic experts have emphasized the importance of increasing investments in the mining sector for the country’s economic growth. They have stressed that priority in mining contracts should be given to domestic companies.

“It is better to prioritize domestic investors over foreign ones,” said Kamaluddin Kakar, an economic expert.

In the meantime, members of the private sector also stated that if both foreign companies and Afghan investors can partner in the mining sector, this will not only foster investment development in the country but also bring positive changes in capacity building within the mining extraction sector.

Continue Reading

Business

Afghanistan ships first consignment to Europe via Khaf-Herat railway

Published

on

(Last Updated On: )

The press office of the Herat governor has announced the export of Afghanistan’s first shipment via the Khaf-Herat railway to Europe.

According to a statement from the office, the shipment includes 200 tons of dried fruits worth $1.2 million, which were exported to Turkey and Europe through the Khaf-Herat railway in the presence of Islam Jar, the governor of this province, and the Iranian Consul General.

The exported dried fruits in this shipment include pistachios, raisins, almonds, and pine nuts.

The statement added that over the past three months, more than 35,000 tons of goods have been transferred via the Khaf-Herat railway.

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending

Copyright © 2024 Ariana News. All rights reserved!