10 December 2018

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Economic

Tuesday, December 04, 2018

Charikar (BNA) The construction works of 4 agricultural projects have been completed and put into exploitation in central Parwan province.
According to BNA report, Abdul Wahab Khalilzad director of agriculture, irrigation and livestock department in Parwan said, the agricultural projects has been built with a sum of $350,000 funded by ministry of agriculture, irrigation and livestock in the province.
The projects include two machineries centers for production of modified seeds, reconstruction of Tutumdara water canal and construction of milk collection center for livestock.
Fazluddin Ayar governor of Parwan expressed that the projects is very important for people and demanded from companies to keen attention in keeping and maintaining machineries of the companies.
Representing other a farmer said, by implementing and using of the projects agricultural products will be increased in Parwan province.
 

Tuesday December 4, 2018

Kabul (BNA) ISLAMIC banking in Afghanistan has nearly tripled its holdings since 2014, but is constrained by uneven profitability, limited investment options and few financing tools, the Islamic Financial Services Board (IFSB) said.
Afghanistan's banking sector is small, but Islamic finance is regarded as a feature that could help attract more people to the formal economy in a country where only 15 per cent of adults have a bank account.
The country is now home to a full-fledged Islamic bank and six Islamic windows in conventional banks.
They held a combined 27.8 billion Afghani (S$500 million) at the end of the second quarter of this year, versus 9.7 billion Afghani at the end of 2014, data compiled by the IFSB showed.
The country's central bank granted its first Islamic banking licence in April to the Islamic Bank of Afghanistan, after it converted its operations from a conventional banking license.
Islamic windows grew their assets by 8.95 per cent year-on-year as of the end of the second quarter, but profitability has remained uneven and most have large amounts of idle cash because there are few compliant investments available, the report noted.
The bulk of Islamic financing in the country is offered via only two types of syariah-compliant structures, a cost-plus-profit arrangement known as murabaha and a leasing-based contract known as ijara.
The Malaysia-based IFSB, one of the main standard-setting bodies in Islamic finance, published the data on Afghanistan as part of its quarterly reporting on the industry.
Afghanistan's central bank introduced Islamic banking regulations in 2015 and is working on additional rules covering accounting and pro-duct development.
Reuters
 

Sunday, December 02, 2018

Herat (BNA) Export of Saffron has increased significantly with the opening of air corridors to Saudi Arabia and India.
According to BNA correspondent, officials of Herat chamber of commerce and industries said that over the last few weeks five tons of saffron have been exported to Saudi Arabia.
On the other hand the head of the ministry of agriculture and livestock said that beside Herat, central provinces also planted saffron this year.
He said that this year saffron harvest has reached to 13 tons, while last year it reached to 10 tons.
An official at the Chamber of Commerce and Industry said exports of Saffron continues to Araba and Indian countries.
He said they are working to promote the cultivation and production of saffron in the country, and so help the peasants.
T. Yarzada
 

Sunday, December 02, 2018

Kabul (BNA) Officials from five countries are expected to gather in Uzbekistan’s capital Tashkent for a two-day meeting starting Sunday (Today) to discuss possibility of building a railway through Afghanistan to Pakistan.
A technical team from railway authority will represent Afghanistan in the meeting with which will be attended also by representatives from Russia, Kazakhstan and Uzbekistan.
Mirwais Ghafoori, director of construction and maintenance department at Afghanistan Railway Authority, said that it prefers the railway to pass through western Afghanistan through the provinces of Balkh, Herat, Helmand and Kandahar before entering Pakistan.
He said that the authority has completed technical and environmental studies for railway between Balkh and Herat.
Afghanistan’s Chamber of Commerce said any railway which would connect Central Asia with South Asia would benefit countries in the region, CEO, Tawfiq Dawari, said that the cost of transportation of commodities would be less with railway.
Meanwhile, Naqibullah Safi, CEO of Afghanistan-Pakistan Joint Chamber of Commerce, said that the railway would help resolve problems of transit with Pakistan and that it would take lesser time for commodities to reach their destination.
It built, the railway will get Afghanistan between 400 and 500 million dollars in transit revenue.
 

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