KABUL
Pakistan and Taliban authorities on Sunday discussed economic, financial and banking issues for bilateral and transit trade to facilitate businesses and the common people across the border.
Ambassador of Pakistan in Kabul Mansoor Ahmad Khan had a meeting with Afghan Taliban leader and Finance Minister in Afghan interim set-up Hedayatullah Badri.
During the meeting, they discussed economic, financial and banking issues. The matters related to transit trade were also discussed to facilitate the businesses and help common people.
“Had a meeting with new Afghan Finance Minister Hedayatullah Badri and had discussions on economic, finance, banking, trade & transit matters to facilitate the businesses/lives of common people,” tweeted Mansoor.
According to the details the two top officials held discussions across a range of topics including the lives of common people.
Meanwhile, Afghanistan’s central bank has ordered banks to pay out remittances in local currency only, the latest move to preserve scarce US dollars, say sources familiar with the matter. Hard currency remittances have formed an important source of external finance for Afghanistan over the years but dollar availability has dried up in the aftermath of the Taliban’s conquest of the country.
Western Union’s agent banking partners in Afghanistan received a directive from the country’s central bank in the last few days to pay out remittances in Afghani only, according to a media report. Remittances sent before the directive and selected by the sender for dollar payout can continue to be paid in dollars. MoneyGram International Inc said it was paying out in Afghani only, without elaborating further.
Both resumed money-transfer services to Afghanistan last week, having suspended services in August after the Islamist militia captured Kabul.
Under the leadership of acting central bank governor, Haji Mohammad Idris, a Taliban loyalist who has no formal financial training, the central bank has been moving to restrict dollar outflows amid a pause in foreign aid and a scramble by some Afghanis to get savings out of the country. Further controls are expected to hasten the Afghani’s depreciation against the dollar, exacerbating inflation in a country where more than a third of the population lives on less than $2 a day.
