Afghanistan’s central bank, Da Afghanistan Bank, has approved a new law on exchange and monetary services, which could affect dozens of small money-changing businesses across the country.

The new Exchange and Money Services Law stipulates that no one can provide money services, which include Hawala - an informal money transfer system, without a license.

According to a statement issued by the central bank, businesses that are licensed will benefit from more facilities and action will be taken against illegal businesses.

This is the latest step by the Islamic Emirate to bring banking and money-related laws in line with Sharia in the country.

Two years ago, the central bank banned online foreign exchange trading, declaring it “illegal” in Islam and warned that anyone engaging in it would face prosecution.

Also in 2022, the central bank banned cryptocurrency trading - also on the grounds of it being sinful.

Since regaining power in August 2021, the Islamic Emirate has undertaken substantial initiatives in various sectors to boost development in the country, including the solar power endeavor in Naghlu area of Surobi District in Kabul Province.

The 10-megawatt (MW) solar power project was recently launched by the Ministry of Water and Energy with financial backing from the private sector. It is now fully operational.

The project, with a generation capacity of 10 MW, aims to enhance domestic electricity production, leverage readily available resources for power generation, and attract further investments.

The survey and design phases were carried out by Afghan engineers, and the project, at a total cost of over $7.6 million, was implemented over a 10-month period by the private firm Aufi Bahram, under the supervision of the Ministry of Water and Energy.

The project is expected to deliver significant social and economic benefits including job opportunities for skilled and unskilled labor.

The Naghlu solar power project stands as a successful model for future initiatives of its kind across Afghanistan and not only facilitates greater investment but also plays a vital role in advancing Afghanistan toward long-term economic self-sufficiency.

German Chancellor Olaf Scholz has said that Berlin will continue to deport Afghan nationals who have committed crimes in Germany.

Speaking at a press conference on the sidelines of the European Union Leaders’ summit in Brussels, Scholz said that a large number of Afghan criminals have already been deported to their country.

"We had a large number of Afghan criminals whom we deported to Afghanistan. It has been complicated, but we were able to do it, and such returns will happen again. Criminals will be returned to Afghanistan."

In late August, Germany deported 28 Afghan nationals charged with criminal acts, in the first such move since the Islamic Emirate returned to power in Afghanistan in 2021.

Meanwhile, Turkish President Recep Tayyip Erdogan has criticized the rise of “Islamophobia and anti-immigrant sentiment” in Europe during a meeting with Scholz in Istanbul.

He expressed concerns that this trend is being fueled by far-right movements, raising worries among immigrants.

Erdogan urged the German chancellor to continue his “unifying stance” against Islamophobia and anti-immigrant sentiment in Germany.