International sanctions on banking sector affect trade: Head of Afghan business council in UAE

Kabul [Afghanistan] : The head of the Afghan business council in the UAE, Haji Obaidullah Sader Khail has said international sanctions on the Afghan banking sector affect trade, TOLO News reported.
TOLO News is an Afghan news channel broadcasting from Kabul.

Sader Khail said efforts are underway to solve the banking problems in Afghanistan.

“There are problems in the banking sector. The traders have problems and cannot transfer money. This problem is yet to be solved. This is not related to the government, if it was, it would have solved it,” he said, as per TOLO News.

Taliban spokesperson Zabihullah Mujahid said that they are in contact with the international community to address the economic sanctions, particularly in the banking sector.

“We have made a lot of effort in this regard and it is still continuing. The negotiations have been conducted through diplomatic paths with other countries. The negotiations have been conducted with the relevant entities which are influential and they have been asked to remove sanctions on the banking sector and facilitate this,” Mujahid said.

The Afghanistan Chamber of Commerce and Investment (ACCI) said that the banking sector is important to draw foreign investment into the country.

An ACCI member Khanjan Alokozai said: “It is very needed. This problem should be solved. The key gate for investment is the banking sector which should be facilitated, and the money transaction should be solved.”

When the Taliban came to power, more than USD 9.5 billion Afghan assets abroad were frozen in American and European banks.