Connect with us

Business

Western Union, MoneyGram resume services to Afghanistan

Published

on

Western Union Co and MoneyGram International Inc resumed money-transfer services to Afghanistan on Thursday, moves in line with a U.S. push to allow humanitarian activity to continue after the Taliban’s takeover, Reuters reported.

According to the report pair suspended services in Afghanistan more than two weeks ago after the Islamist militia captured Kabul at lightning speed.

But an easing of security concerns following the completion of the Taliban’s conquest of the country opened the way for the reopening this week of banks, which the money-transfer firms rely on to dispense and collect funds.

Jean Claude Farah, Western Union’s president in Asia, Europe, the Middle East and Africa, told Reuters the reopening of banks, plus a push by the United States to facilitate humanitarian assistance to the Afghan people, had given the American company confidence to resume services on Thursday.

“Much of our business involving Afghanistan is low-value family and support remittances that support basic needs of the people there, so that’s the grounding that we have and why we want to reopen our business,” Farah said.

“We’ve engaged with the U.S. government, which has conveyed that allowing humanitarian activities, including remittances, to continue are consistent with U.S. policy.”

The flow of funds from migrant workers overseas is a key lifeline for many Afghans and has helped the economy of one of the world’s poorest nations weather years of violence and instability. The United Nations says about half of the population requires aid amid the second drought in four years, Reuters reported.

In a statement, MoneyGram said following guidance from the U.S. government, it was resuming its services in coordination with its partners in the country and the Afghanistan Banks Association.

“We recognize that remittances play a pivotal role in the livelihood and daily needs of the Afghan people,” MoneyGram said.

According to Reuters yet U.S. President Joe Biden’s administration has said it is committed to allowing humanitarian work to continue in Afghanistan.

“We are continuing to engage with the U.S. government and others to understand their policies and what type of longer term regulatory framework will be put in place as it relates to the Taliban,” Western Union’s Farah said.

Remittances to Afghanistan reached $789 million in 2020, around 4% of the country’s gross domestic product (GDP), the World Bank estimated, down from $829 million in 2019.

Such flows have historically played an important role in supporting financial stability. Along with international grants and resilient exports, remittances helped Afghanistan’s current account surplus reach 14.2% of GDP in 2020, the International Monetary Fund said in June.

In recent days, Afghanistan’s central bank has provided funds of hundreds of thousands of dollars to each bank that requested liquidity, a senior banker told Reuters. But the financial system and economy could be in peril unless the Taliban can access the central bank’s roughly $10 billion in assets, which are mostly outside of the country.

Farah said Western Union had been assured by the banks it partners with in Afghanistan that they had sufficient cash to pay receivers of remittances.

“Some of them have indicated at some locations that they have good liquidity in afghani and at least some liquidity in U.S. dollars as well, we allow payouts in both, to resume remittances,” he added.

Before it shut down services on Aug. 16, around 45% of each transaction sent via Western Union to Afghanistan was $200 or less, he said.

Western Union said on Thursday that payouts of any funds sent to Afghanistan were available in select locations. Outbound services, money sent from there to other countries, remained suspended, it added.

Business

Tripartite agreement to launch new Russia–Turkmenistan–Afghanistan transit corridor

The agreement is scheduled to be finalized on the sidelines of the Kazan Forum 2026, according to Russian media reports.

Published

on

A tripartite agreement to establish a new trade and transit corridor linking Russia’s Republic of Tatarstan, Turkmenistan, and Afghanistan is expected to be signed in May, opening a fresh route for the movement of goods between Russia and Afghanistan.

The agreement is scheduled to be finalized on the sidelines of the Kazan Forum 2026, according to Russian media reports. The proposed corridor is seen as a strategic alternative to existing routes, particularly the North–South Corridor, which has faced disruptions due to ongoing tensions in Iran.

Rustam Khabibullin, head of the Russian Business Center in Afghanistan, said the new route could significantly streamline cargo transport between Russia and Afghanistan. He added that the corridor may also attract companies from Europe and Asia seeking more stable and reliable logistics options.

Afghanistan is considered a key supporter of the initiative. Once operational, the corridor is expected to facilitate direct shipments from Tatarstan to Afghanistan, reducing reliance on indirect transit routes through Central Asia.

The development has been welcomed by members of Afghanistan’s private sector, who say that expanding transit infrastructure and logistics networks could boost trade and contribute to economic growth.

In recent years, Afghanistan has emerged as an important market for Tatarstan’s halal products. According to reports, Afghan imports of halal goods from Tatarstan reached $51.7 million in 2025, marking a notable increase compared to the previous year. However, much of this trade has so far been conducted indirectly via third countries.

The planned corridor is expected to enhance direct trade links and improve efficiency in regional commerce.

Continue Reading

Business

Russia backs Uzbekistan–Afghanistan trade hub, praises regional economic cooperation

Published

on

A senior Russian diplomat has praised Uzbekistan’s efforts to boost regional trade and economic cooperation, highlighting the strategic importance of a new international trade hub near the Afghan border.

Mikhail Galuzin, Deputy Minister of Foreign Affairs of the Russia, made the remarks to media representative covering an international conference titled “Uzbekistan – Russia: Strategic Partnership in the Eurasian Space,” at the Termez International Trade Center in southern Uzbekistan.

Speaking to media representatives, Galuzin commended the development of the Surkhandarya region, describing it as a “unique oasis” with significant economic potential. He said the Termez International Trade Center—located in a free trade zone—represents a major step forward in strengthening trade links, particularly between Uzbekistan and Afghanistan.

“The project deserves the highest praise,” Galuzin said, adding that the center is expected to play a key role in expanding trade and economic ties and advancing broader strategic partnerships across the Eurasian region.

The trade center was established under a resolution by Shavkat Mirziyoyev and is designed to facilitate commerce by providing a platform for Uzbek and Afghan entrepreneurs to showcase goods and investment projects. According to Galuzin, such initiatives are already contributing to increased trade turnover, with Afghanistan currently ranking among Uzbekistan’s top trading partners.

He also noted growing interest from Russian regions and businesses in participating in the project, calling for further expansion of cooperation among the countries involved.

Galuzin emphasized that platforms like the Termez trade hub and international conferences play a vital role in building direct economic connections, which in turn help create stable supply chains and open new opportunities for trade and investment across the region.

Continue Reading

Business

Afghanistan opens doors to agribusiness investments amid rising opportunities

They urge MAIL to introduce incentive packages that would make the sector more attractive for investors.

Published

on

Officials from the Ministry of Agriculture, Irrigation, and Livestock (MAIL) have reiterated their commitment to expanding investment opportunities in Afghanistan’s agricultural sector, aiming to attract both domestic and international investors.

According to Sher Mohammad Khatami, spokesperson for the ministry, technical cooperation and land access are key priorities for supporting investors. “Around 72,000 jeribs of land have been allocated for agricultural and livestock projects across the country,” Khatami said.

The ministry highlights Afghanistan’s vast potential in agriculture, livestock, horticulture, irrigation, product packaging, storage, transport, and cold chain facilities. Private sector representatives note that with the proper technical support and land allocation, local investors would be more willing to participate in the sector.

However, some private investors have voiced concerns over the ministry’s performance, saying that despite Afghanistan’s high agricultural capacity, sufficient steps have not been taken to standardize products or achieve self-sufficiency.

Economic experts stress that well-targeted development of agriculture and livestock could unlock multi-billion-dollar investment opportunities.

They urge MAIL to introduce incentive packages that would make the sector more attractive for investors.

Continue Reading
Advertisement
Advertisement
Advertisement
Advertisement

Trending

Copyright © 2025 Ariana News. All rights reserved!