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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

The families, comprising more than 10,000 people, had asked U.S. District Judge George Daniels in Manhattan to put his Feb. 21 decision on hold while they appeal. "An important public interest lies in the enforcement of terrorism judgments," Daniels wrote. In ruling against the families, Daniels said awarding them the frozen assets would effectively recognize the Taliban as Afghanistan's legitimate government, which the Biden administration has not done. The president ordered $3.5 billion set aside to benefit the Afghan people, leaving the rest for the families to pursue. The case is In re Terrorist Attacks on Sept. 11, 2001, U.S. District Court, Southern District of New York, No.

NEW YORK, Feb 21 (Reuters) - A U.S. judge said on Tuesday victims of the Sept. 11, 2001, attacks are not entitled to seize $3.5 billion of assets belonging to Afghanistan's central bank to satisfy court judgments they obtained against the Taliban. U.S. District Judge George Daniels in Manhattan said he was "constitutionally restrained" from finding that the Taliban was Afghanistan's legitimate government, a precursor for attaching assets belonging to Da Afghanistan Bank, or DAB. Daniels said letting victims seize those assets would amount to a ruling that the Taliban are Afghanistan's legitimate government. He said U.S. courts lack power to reach that conclusion, noting that Biden administration does not recognize the Taliban as Afghanistan's government. The case is In re Terrorist Attacks on Sept. 11, 2001, U.S. District Court, Southern District of New York, No.

☆ 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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