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New Kabul Bank Auctioned Again For Sale

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Afghanistan Finance Ministry says that according to the decision of the cabinet, the New Kabul Bank should sell.

The original Kabul Bank, used to pay government salaries, collapsed in 2010 with debts of almost $1 billion, triggering a financial crisis.

The banking sector has yet to recover from the blow and the government has struggled to find a buyer for the new state-run institution.

However, deputy of Afghanistan Central Bank says that this time all conditions will be considered to identify the buyer.

Treasury chief of the finance ministry, Muhammad Aqa Kohestani noted that the New Kabul Bank is now in a situation of loss.

The troubled New Kabul Bank has lost $ millions over the past four years, according to Aqa, because of strict rules on its lending and investment.

“According to the decision of the cabinet the bidding for the New Kabul Bank will continue for two months and the conditions are that the buyer should have $ 20 million in his bank account and an official licensed even the buyer can be a foreign citizen,” Muhammad Aqa Kohistani, treasury chief of finance ministry said.

Kabul Bank was badly shaken and almost collapsed in one of “the worst banking scandals in history,” in the past.

Previously, President Ashraf Ghani opened efforts to bring former Kabul Bank officials involved in the Kabul Bank Crisis to justice, extend and enforce prison sentences for those previously convicted, and seek to recover hundreds of millions of U.S. and Afghan taxpayers’ dollars in funds stolen or lost by embezzlement, corruption, and fraud by the bank’s insiders.

Ghani vowed to seek to continue the investigation of the Kabul Bank crisis and fight corruption in Afghanistan.

In October 2014, the Ghani Administration in Kabul reportedly officially re-opened the investigation.

 

 

 

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Foreign ministry confirms UAE agreement to free 54 Afghan citizens

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The Ministry of Foreign Affairs announced on Friday that as a result of repeated efforts by the ministry and the Afghan Embassy in Abu Dhabi, an agreement has been reached with the United Arab Emirates for the release of 54 Afghan citizens from its prisons.

According to a statement from the Ministry of Foreign Affairs, the Islamic Emirate has expressed gratitude to the President of the UAE for releasing Afghan prisoners during the month of Ramadan and considers this step a sign of strengthening bilateral friendly relations between Kabul and Abu Dhabi.

The list of these 54 individuals is also attached to the Ministry’s statement.

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Dried fruit market in Herat booms ahead of Eid-al-Fitr

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As Eid al-Fitr approaches, the dried fruit market in Herat province has thrived, with people busy purchasing Eid sweets. Families are striving to buy sweets according to their economic capabilities in preparation for this holiday.

However, this year, people’s economic situation has worsened, and they are unable to make purchases as they did in previous years.

Nevertheless, the customs and traditions of Eid compel most families to prepare for the holiday.

“Thank God, there is a lot of crowds. Sales are high. People are in the market until 1:00 AM, buying. This year, by the grace of God, prices are low, and everyone can afford to buy,” said Ayatullah Habibi, a shopkeeper in Herat.

Although dried fruit prices are cheaper this year compared to last year, many people still cannot afford to buy them.

“We are almost hopeless about our lives; there is no business, and the situation is bad,” said Ghulam Sarwar, a worker in Herat.

Meanwhile, the Herat municipality has announced the creation of a price control commission in recent days.

Herat municipality stated that dried fruit and food markets are being monitored daily by the commission members.

Meanwhile, the Union of Dried Fruit Sellers in Herat also emphasized that prices are better compared to last year.

“There is ongoing supervision in the market to ensure good quality goods and fair pricing. Any shopkeeper who sells poor-quality goods will have their shop closed,” said Abdul Ghani Qadri, the head of the Dried Fruit Sellers Union in Herat.

While many people are eagerly awaiting Eid al-Fitr, there are still many families whose primary concern is feeding their children.

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US may ask for military equipment left behind in Afghanistan: Trump

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The United States may ask for military equipment left behind in Afghanistan, although it is getting old, President Donald Trump said on Thursday.

Speaking at an event on Women’s History Month, Trump said that the Biden administration gave much of the US military equipment to Afghanistan, worth billions of dollars.

“Maybe we will have to ask for that back, although it is getting a little old now. We are building new stuff,” he said.

Trump had earlier said that if Afghanistan wants aid from America, the Islamic Emirate must return US military equipment left behind during the 2021 troop withdrawal.

However, the Islamic Emirate has said that the equipment it has seized is war spoils and will not be returned.

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