Kabul, Afghanistan, in November 2021. EPA
Kabul, Afghanistan, in November 2021. EPA
Kabul, Afghanistan, in November 2021. EPA
Kabul, Afghanistan, in November 2021. EPA

Taliban appoint new central bank governor as country grapples with economic collapse


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The Taliban has appointed a new head of the county’s central bank, which allocates funds for critical imports such as food. The movement, which took control of Afghanistan in August 2021 after a precipitous withdrawal of western troops, is presiding over a devastated economy, since the US and EU froze the country’s $9 billion worth of foreign reserves.

The US initially said the group was aligned to Al Qaeda-linked terrorists, saying the militants had broken the terms of the US withdrawal agreement, before releasing some of the funds for humanitarian needs.

But funds were frozen again when the Taliban reneged on a promise to allow girls access to education, leading to widespread international condemnation. With a population of about 40 million, Afghanistan’s budget for this year is now just $2 billion. By contrast, Iraq, with a population of 43 million, this month announced a budget of $155 billion.

The UN says half of Afghans now face acute hunger.

Finance Minister Hidayatullah Badri was appointed as acting governor, replacing Mohammad Idris, a key fundraiser for the Taliban during its decades-long war against the US. Taliban spokesman Zabihullah Mujahed confirmed the appointment on Wednesday but gave no further details.

Even among the Taliban there are divisions on the sweeping orders to restrict women’s rights. One faction backs supreme leader Hibatullah Akhundzada who issued the conservative decrees, while another group are pushing back against his policies.

Mr Badri is from Kandahar, the birthplace of the Taliban, and was one of the closest aides to the late Mullah Mohammad Omar, the founder of the militant group. Omar’s son and the current Defence Minister, Mullah Mohammad Yaqoob, is one of the leaders driving the faction against the conservatives.

Ministry of Finance spokesman Ahmad Wali Haqmal said on Wednesday that Mullah Mohammad Nasser Akhund, a deputy minister of revenue and customs, will take charge until Mr Badri’s replacement is appointed.

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Bio

Born in Dibba, Sharjah in 1972.
He is the eldest among 11 brothers and sisters.
He was educated in Sharjah schools and is a graduate of UAE University in Al Ain.
He has written poetry for 30 years and has had work published in local newspapers.
He likes all kinds of adventure movies that relate to his work.
His dream is a safe and preserved environment for all humankind. 
His favourite book is The Quran, and 'Maze of Innovation and Creativity', written by his brother.

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UAE currency: the story behind the money in your pockets
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Dunki
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Key recommendations
  • Fewer criminals put behind bars and more to serve sentences in the community, with short sentences scrapped and many inmates released earlier.
  • Greater use of curfews and exclusion zones to deliver tougher supervision than ever on criminals.
  • Explore wider powers for judges to punish offenders by blocking them from attending football matches, banning them from driving or travelling abroad through an expansion of ‘ancillary orders’.
  • More Intensive Supervision Courts to tackle the root causes of crime such as alcohol and drug abuse – forcing repeat offenders to take part in tough treatment programmes or face prison.
Tailors and retailers miss out on back-to-school rush

Tailors and retailers across the city said it was an ominous start to what is usually a busy season for sales.
With many parents opting to continue home learning for their children, the usual rush to buy school uniforms was muted this year.
“So far we have taken about 70 to 80 orders for items like shirts and trousers,” said Vikram Attrai, manager at Stallion Bespoke Tailors in Dubai.
“Last year in the same period we had about 200 orders and lots of demand.
“We custom fit uniform pieces and use materials such as cotton, wool and cashmere.
“Depending on size, a white shirt with logo is priced at about Dh100 to Dh150 and shorts, trousers, skirts and dresses cost between Dh150 to Dh250 a piece.”

A spokesman for Threads, a uniform shop based in Times Square Centre Dubai, said customer footfall had slowed down dramatically over the past few months.

“Now parents have the option to keep children doing online learning they don’t need uniforms so it has quietened down.”

Updated: March 22, 2023, 2:04 PM`