Bank holds demonstration to free foreign assets

KABUL (Tolo News): The Central Bank held an exhibit on a street in Kabul city displaying photos and banners to encourage the international community and particularly the US to release the Afghan assets that remain in the US banks.
A spokesman for the Central Bank said that the negotiations with the US over the Afghans assets have yet to make any progress. The banners of the exhibition were written with slogan such as “don’t deprive Afghans of their rights.” The deputy head of the Central Bank, Abdul Qadeer Ahmad, said that they are ready to conduct all banking with foreign countries.
“Da Afghanistan Bank (Central Bank) seeks good banking and financial relations with the world–based on international norms–which are not in contrast with Islamic values. We hope the world also provides essential support to the Da Afghanistan Bank,” he said.
“We say to the US and international community that the Afghan assets which they have frozen belong to the people of Afghanistan and are the property of the Afghans and should be handed back to the Afghans,” said Mohammad Sabir Momand, a spokesman for Da Afghanistan Bank.
The economists believe that the freezing of Afghan assets will cause a reduction in the value of Afghan currency against foreign currencies. “If the Afghan assets remain frozen, the Afghan currency will be lose its stability and value,” said Shakir Yaqobi, an economist.
“The assets in reserve are very important for the economy because they support the stability of the country’s currency,” said Mozamil Shinwari, former deputy Minister of Commerce and Industry. With the fall of the former government, the Afghan assets of $9.5 billion were frozen by the US Department of Treasury. Earlier, US President Joe Biden in an executive order directed 3.5 million of the Afghan assets based in US banks to the victims of 9/11.