Monday, January 24, 2022

Afghan banking system close to collapse

New Delhi: Afghanistan’s banking system is close to collapse. Syed Moosa Kaleem Al-Falahi, the Chief Executive of the Islamic Bank of Afghanistan, said the country’s financial industry is in the grip of an “existential crisis” as customers panic, BBC reported.

“There’s huge withdrawals happening at the moment”, he said, speaking from Dubai, where he is temporarily based because of the chaos in Kabul.

“Only withdrawals are happening, most of the banks are not functioning, and not providing full services,” he added, the report said.

Afghanistan’s economy was already on shaky ground even before the Taliban took control in August.

But since the Taliban takeover, the West has frozen international funds, including assets Afghanistan could have accessed with the World Bank and International Monetary Fund (IMF).

So accessing international funds and foreign assistance is key to Afghanistan’s survival.

But countries like the US have said that while they are willing to consider working with the Taliban – it will depend on some pre-conditions – including the regime’s treatment of women and minorities.

Related Articles

Meet 3-year-old singing wonder kid who is social media star

0
A video of a three-year-old from Kota, Rajasthan has been doing the rounds of the internet for a very cute reason. Meet this little girl...

WhatsApp planning to add two-step verification for desktop users soon

0
Instant-messaging app, WhatsApp is planning to introduce two-step verification for the desktop users in a major upcoming update. According to report, the Meta-owned app...

‘Jai Bhim’, ‘Marakkar’ Make It To Oscars ‘Submission List’

0
Los Angeles/Thiruvananthapuram: Two Indian films — the controversial Tamil film ‘Jai Bhim’ starring Suriya and Lijomol Jose and Priyadarshan’s Malayalam period drama ‘Marakkar: Arabikadalinte Simham’...

Complete Lockdown In Tamil Nadu On January 23

0
Chennai/Bhubaneswar: Tamil Nadu Chief Minister MK Stalin today announced that there will be a complete lockdown across the state on January 23 (Sunday). The decision...

Odisha Capital Wakes Up To Dense Fog; Rain On Cards For...

0
Bhubaneswar: Residents of Bhubaneswar woke up to dense fog on Friday morning with a visibility of less than 100 metre. Vehicular traffic on streets as well...

How to open a fixed deposit account easily on Google Pay,...

0
If you are looking to open a Fixed deposit (FD) and have a Google Pay account then you can do it easily. Google Pay...

IS attack in Iraq kills 11 soldiers

0
Baghdad: At least 11 Iraqi soldiers were killed in an overnight attack by the Islamic State (IS) terror group in the eastern province of Diyala,...

Ranveer to Deepika: My ‘babygirl lookin like a Fazillion buxxx’

0
Mumbai: Bollywood’s livewire star Ranveer Singh seems to be in awe of his actress wife Deepika Padukone’s performance in the upcoming film ‘Gehraiyaan’ and praised...

BECIL Recruitment 2022: Notification released for 500 Investigator, Supervisor posts; Salary...

0
Broadcast Engineering Consultants India Limited (BECIL) has released a notification for recruitment to the posts of Investigator and Supervisors on contract basis for deployment...

Remembering freedom fighter Parbati Giri of Odisha

0
Parbati Giri was one of the great women who had dedicated their whole life to serve the country.  Also known as the Mother Teresa...

Tata Tiago CNG and Tata Tigor CNG launched in India; Check...

0
Tata Motors is has finally entered the CNG passenger vehicle market in India. The company has launched CNG versions of Tata Tiago and Tata...

OnePlus 9RT receives its first update in India with system fixes...

0
OnePlus has released the first update for the recently launched OnePlus 9RT in India. The update has brought fixes to a host of problems...

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Stay Connected

22,878FansLike
3,131FollowersFollow
0SubscribersSubscribe
- Advertisement -

Latest Articles

- Advertisement -