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Search resuls for: "Afghan Fund"


3 mentions found


☆ Exclusive: Audit fails to win U.S. backing for release of Afghan central bank funds - U.S. officials
  + stars: | 2023-07-21 | by ( Jonathan Landay Charlotte Greenfield | Jonathan Landay | Charlotte Greenfield | ) www.reuters.com   time to read: +4 min
The audit has not changed the U.S. Treasury's view that the bank must make reforms before the department will support disbursements from the Afghan Fund to Da Afghanistan Bank, or DAB, as the central bank is known, said a U.S. Treasury official on condition of anonymity. It also must prove that it has "adequate" controls against money-laundering and terrorism financing and install a "reputable" independent monitor, said the Treasury official. A Taliban administration spokesman and a spokesperson for the Afghan central bank did not respond to request for comment. Afghanistan remains mired in grave humanitarian and economic crises that some experts say has been worsened by U.S. restrictions hampering DAB's ability to perform key central bank functions, such as ensuring stable exchange rates and prices. Calling the audit a "preliminary assessment," the Treasury official said its "limitations" suggested that "more comprehensive third-party assessment efforts may be needed."
Persons: ”, disbursements, Shah Mehrabi, Mehrabi, Anwar ul, Haq Ahady, Jonathan Landay, Charlotte Greenfield, Don Durfee Organizations: U.S ., Afghan, Da, Da Afghanistan Bank, Treasury, Federal Reserve Bank of New, DAB, U.S . Agency for International Development, USAID, U.S, Afghan Fund, State Department, The State Department, Reuters, Thomson Locations: WASHINGTON, ISLAMABAD, U.S, Da Afghanistan, Swiss, Federal Reserve Bank of New York, Afghan, Washington, United States, Afghanistan, American
☆ Swiss-based trust holds second meeting to discuss plans for Afghan funds -trustee
  + stars: | 2023-03-01 | by ( Charlotte Greenfield | ) www.reuters.com   time to read: +2 min
The frozen central bank reserves were transferred from Washington into the "Fund for the Afghan People" last year where U.S. officials say it will be shielded from the Taliban. Trustee Shah Mehrabi, a U.S. academic who also remains on the Afghan central bank's Supreme Council, said a meeting of the four trustees was held virtually on Feb. 16. "The issue of disbursements of funds and the options for that was discussed," Mehrabi told Reuters. "The idea clearly here is the necessary steps to disburse funds and potential options for achieving monetary stability." Mehrabi said he believed the funds should only be used for achieving monetary stability and reducing volatility in Afghanistan's exchange rate.
☆ Frozen Afghan Funds Have Done Little to Sway Taliban
  + stars: | 2023-02-08 | by ( Daniella Cheslow | ) www.wsj.com   time to read: 1 min
The U.S. wants Kabul’s central bank, the Da Afghanistan Bank, to show it is independent and ready to counter money-laundering and terrorism financing. When the Biden administration seized $7 billion of Afghanistan’s central bank reserves two years ago, it set aside half for victims of the Sept. 11 attacks, and deposited the rest in a Swiss-based fund that it said would benefit the Afghan people. Today, that $3.5 billion remains frozen. The Taliban-controlled central bank says it wants the money to stabilize its crippled financial sector. In the U.S., officials close to the situation say the money hasn’t been enough of an enticement to dissuade the Islamist regime from policies the U.S. and the West find objectionable.
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