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Insecurity Undermines Private Banking in Afghanistan

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(Last Updated On: October 24, 2022)

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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

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Turkey’s 77 keen to start up cement plant in Jawzjan

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(Last Updated On: March 27, 2024)

Turkish construction company 77 officials have met with the acting minister of mines and petroleum, Shahabuddin Delawar, about investing in a cement factory in Yatim Taq area of Jawzjan province.

The minister, Shahabuddin Dalawar, has said the ministry will cooperate with the company but first needs a proposal, including details around how they plan to implement the project as well as social development plans.

Turkey’s 77 company has been working on electricity generation projects in Afghanistan for several years.

A number of industrialists say that if more investment is made in the cement production sector, not only will domestic demand be met, but the country’s cement will also be exported.

At the moment, cement is being produced by private companies in the provinces of Kandahar, Parwan and Herat.

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Pakistan delegation discusses solutions with Azizi to resolve trade issues

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(Last Updated On: March 26, 2024)

Officials of the Afghan Ministry of Commerce and Industry on Tuesday held a meeting with the visiting delegation of Pakistan’s Ministry of Commerce where they discussed challenges around trade relations between the two countries.

The Acting Minister of Commerce and Industry Nooruddin Azizi said due to recent political tensions, trade and transit relations between Afghanistan and Pakistan have faced problems. He said efforts are being made to find solutions to the existing problems and to distance political issues from trade issues.

The visiting delegation is in Kabul at the invitation of the ministry of commerce and industry.

Azizi said the Pakistani delegation said at the meeting that all commercial, transit and economic issues between the two countries will be discussed and efforts will be made to keep trade issues separate from political issues.

“We want to talk about issues that are especially in the field of trade and transit, and we want to prioritize all issues related to trade, we are trying to separate trade and transit from political issues,” said Azizi.

He also expressed hope that his meeting with the Pakistani delegation will help solve the existing challenges and improve and expand trade and transit relations between the two countries.

According to economic experts, since Afghanistan is a transit route between Central Asia and South Asia, the Islamic Emirate can use it to pressurize Pakistan so as not to create trade problems.

“Pressure should be put on Pakistan with the same means we have so that the agreement signed between us and Pakistan and they are forced to comply. We must use this agreement and use it correctly and we should be emotional and not say hostile words, but we want our right,” said Seyed Masoud, an economic expert.

Officials from the ministry also said that talks were held on other issues, including implementing the PTA preferential trade agreement or TAD, finalizing negotiations about APPTA, determining the date of air transit, 24-hour operations in the ports of Torkham, Chaman, and Spin Boldak.

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Pakistani delegation in Kabul to talk trade amid ‘deteriorating ties’

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(Last Updated On: March 25, 2024)

Despite ongoing tension between Kabul and Islamabad, the Ministry of Industry and Commerce of the Islamic Emirate has announced that a Pakistani delegation is visiting Kabul this week to discuss issues around bilateral trade relations.

According to reports, during this visit, the Pakistani Ministry of Commerce’s delegation is expected to discuss ways to remove obstacles around transit and trade at border crossings between Afghanistan and Pakistan.

Mohammad Zubair Motiwala, the Executive Director of Pakistan’s Trade Development Authority, said: “A high-level delegation led by the Pakistani deputy Minister of Commerce visiting Kabul on March 25 to build confidence and strengthen trust in trade flow between the two neighboring countries.”

“I hope this visit will lead to bilateral cooperation between the two countries. Both countries need to review their policies to simplify trade, reduce restrictions, and streamline transit at border points,” he said.

Abdul Salam Jawad, the spokesperson for Afghanistan’s ministry confirmed to the media on Monday that a delegation from Pakistan’s Ministry of Commerce arrived in Kabul for discussions on issues related to bilateral trade.

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