25 September 2020

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Tuesday, October 14, 2014
Kabul (BNA) Dr. Ashraf Ghani Ahmadzai, President of the Islamic Republic of Afghanistan met the other day with head and members of money changers’ union of Kabul Sarai-e-Shahzada. 
Presidential press office stated BNA, in the meeting held at presidential palace, head of the union Khan Mohammad Baz asked for strengthening the relations of government and private banks with top US banks in connection with money transfer.
After hearing demands and suggestions of head and members of the union, the country’s President assured them of amendment and taking measures related to banking affairs in the country and strengthening the relations of government and private banks of Afghanistan with top US banks. Dr. Ashraf Ghani Ahmadzai considered maintaining security for investment and economic development of the country as national unity government’s priorities, saying a series of particular programs have been underway for betterment of security condition of the country in particular Kabul city.

Monday, October 13, 2014
Kabul (BNA) Based on Khan Mohammad Baz’ head of currency exchangers in Kabul, Shahzada market report the exchange rate of Afghani as a follow:
                                            Buying                          Selling
One Dollar                          57/65afgs                      57/70afgs
One Pound sterling             91/50 afgs                    91/55afgs
One Euro                            72/85afgs                     72/90afgs
One Emirate’s Dirham       15/55afgs                      15/60 afgs
One Thousand Pakistani Rupees 563 afgs            564 afgs
One Thousand Indian Rupees 940 afgs                 945 afgs
One Thousand Iranian Rupees 17/65afgs              17/70 afgs

Monday October 13, 2014
Kabul (BNA) New President of the country, Dr. Ashraf Ghani Ahmadzai issued a decree directing the Supreme Court to reopen a case involving the scandal at the first Afghan private bank, Kabul Bank and resolve it within 45 days by recovering bank loans and stolen assets, as his first step in fighting corruption since assuming office on Sept. 29. The Xinhua news agency had focused on the issue as follow:
Once the largest financial body in the post-Taliban Afghanistan, the Kabul Bank plunged into deep crisis and was on the verge of collapsing in 2010, as it lost 913 million U.S. dollars in fraudulent activities and mismanagement, prompting the government to take charge over the bank by injecting hundreds of millions of U.S. dollars into it. Only 184 million U.S. dollars out of 913 million U.S. dollars have been recovered, a spokesman for the Afghan Attorney General Office, Basir Azizi said recently. Local observers are of the view that reopening the Kabul Bank scandal case could be a test for the new administration and in particular the national unity government in fighting corruption a menace that has tarnished the image of Afghanistan in the comity of nations. “Administrative corruption is a challenge before the government and reopening the Kabul Bank scandal case is a test for the new government in fighting corruption,” parliamentarian Shah Gul Rezai said in talks with local media.
The Berlin-based corruption watchdog Transparency International in its report released recently put Somalia as the most corrupt country in the world, followed by Afghanistan, Myanmar and Iraq. The presidential decree on reopening the case of the Kabul Bank has been widely welcomed by Afghans from all walks of life and has raised the rays of hope among people for a corruption-free society. Afghan observers believe that the reinvestigation of the Kabul Bank case and the recovery of the stolen money could help the government restore its image in delivering all the promises given to the people. “Reopening the Kabul Bank case and reinvestigating the scandal is the most difficult test and a challenging task for the new government,” lawmaker Rezai said, adding if the government succeeds in recovering the stolen assets, it would help the establishment check corruption in all fields. More than 4 million acres of land have reportedly been grabbed by powerful figures, including former warlords, who had power in the government during the era of former president Hamid Karzai.
Observers believe that recovering Kabul Bank’s stolen funds would enable the government to reclaim all the stolen land and also check poppy cultivation. Twenty one people, including the brother of former president Hamid Karzai and the brother of the former Vice President, late Mohammad Qasim Fahim, have been accused of committing fraud and embezzlement of the Kabul Bank. The founder of the bank, Shir Khan Farnood and its chief executive Khalilullah Ferozi have also been found guilty and sentenced to prison. Local analysts are closely watching the development and assessing the government’s resolve and might in resolving the case. “Although fighting corruption is the primary need of the government, the menace of corruption is deep-rooted within the government and so it is very difficult for the president to overcome the nuisance,” political analyst and lawmaker Ghulam Hussain Nasiri maintained in talks with a local media. “(By about) 43 percent I believe in the government’s ability to bring to justice those responsible for the Kabul Bank scandal, because some of the big fishes are above the law, “He said with pessimism. Corroborating the notion, another lawmaker and political analyst, Dr. Ramazan Bashardost, was skeptical and said, “I don’t believe in the president’s ability to recover the stolen funds of the Kabul Bank.”

Monday, October 13, 2014
Kabul (BNA) After a long wait and technical sessions and repeated diplomatic efforts, agreement of electricity transit price for regional CASA-1000 project has been signed between Afghanistan and Pakistan in World Bank in Washington DC.
Based on information released by MoFA, the agreement has been signed between Afghanistan’s acting minister of finance and his Pakistani counterpart in a session held with participation of World Bank’s President, Chief Executive of British International Cooperation, US Special Envoy to Afghanistan and Pakistan and other high-ranking officials.
According to timetable, signing of the agreement is a big step towards implementation of the project and includes finalization of the electricity’s transit price from Afghanistan territory to Pakistan, considered as the longest route of electricity transit. The electricity’s transit price has been also finalized and agreed from Sang-e-Toda of Tajikistan to Kabul and Peshawar.
The government of Afghanistan has made efforts in connection with absorption of assistance for implementation of the project and creating fund for organizing of financial assistance, transport plan of the project and finalization of technical and financial agreements.
In the session, Afghanistan acting minister of finance and his Pakistani counterpart discussed related to positive impacts of the project on relations of the two countries, security of energy in the region and regional economic cooperation, stressing on preparations of the two countries for further cooperation towards its implementation.
The Islamic Republic of Pakistan, facing with lack of energy, has asked for urgent completion of the project’s stages. It is worth mentioning that the project will be completed in 2017. US Department of State in a declaration has welcomed steps of the countries, assuring of US support for implementation of the project. Based on World Bank, total price of the regional CASA-1000 project has been estimated nearly $1.16 billion. World Bank, USA, European Union, Britain and Islamic Bank are key donors of the project. Work on the project began in 2006 and is considered as the most significant regional projects of Central Asia and Afghanistan government.
It’s determined that up to 1300 MW electricity will be exported from Tajikistan and Kirghizstan to Afghanistan and Pakistan after completion of the project.