Saturday, July 13, 2024

Afghanistan’s assets in Switzerland reach $270 million

Immigration News

Fidel Rahmati
Fidel Rahmati
Fidai Rahmati is the editor and content writer for Khaama Press. You may follow him at Twitter @FidelRahmati

Members of the Afghanistan Trust Fund in Switzerland have stated that out of Afghanistan’s $3.5 billion bank reserves in Switzerland, only about $270 million has been accessed so far.

Anwar ul-Haq Ahadi, one of the members of the Afghanistan Trust Fund in Switzerland, recently told Radio Azadi that within a year and a half of the fund’s establishment, its profits had reached approximately $270 million.

Mr. Ahadi added that a small amount of this money has been allocated for administrative purposes, but the rest is being preserved.

He also mentioned that with the agreement of the fund’s four board members, the funds could be used as a backup to support the value of the Afghan currency.

It is worth noting that the Afghanistan Trust Fund in Switzerland was established on September 14, 2022, to safeguard Afghanistan’s bank reserves of $5 billion.

Economic experts argue that Afghanistan’s bank capital should not be spent and could serve as financial backing for Afghanistan.

Although the Taliban regime back in Kabul has repeatedly demanded the return of Afghanistan’s frozen funds from the United States, which are said to be around $9 billion, they have not yet gained access to this money.

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