Taliban commerce minister calls for return of $7 billion in frozen Afghan assets
Nouruddin Azizi, the Taliban administration’s minister of industry and commerce, called for the direct transfer of $7 billion in frozen Afghan assets to the country’s central bank at a banking conference held on Sunday, the 3rd of Aqrab, in Kabul. According to him, the move is necessary to improve the financial cycle and support Afghanistan’s economic development.
The conference, organised by the Afghanistan Banks Association, was dedicated to examining problems in the banking system, developing financial services and strengthening coordination between the Taliban administration and the private sector.
Afghanistan’s banking system is now facing an unprecedented crisis caused by its disconnection from international banking networks. The problem has prevented banks and customers from accessing cash and has sharply reduced lending to the private sector.
The blocking of foreign financial channels has led to a severe slowdown in domestic trade and foreign transactions, while broad restrictions on access to financial resources for people and traders have placed heavy economic pressure on Afghanistan’s economy.
