Saturday, April 20, 2024

Afghanistan’s Foreign Reserves in Swiss Bank earned $155 million profit

Immigration News

Fidel Rahmati
Fidel Rahmatihttps://www.khaama.com
Fidai Rahmati is the editor and content writer for Khaama Press. You may follow him at Twitter @FidelRahmati

The Afghan Trust Fund board members in Switzerland have announced that a portion of Afghanistan’s blocked assets, which were transferred to a trust fund in Switzerland in September 2022, have generated approximately $155 million in profit.

Tolo News reported on Friday, citing Shah Mohammad Mehrabi, one of the board members of the Afghan Trust Fund in Switzerland, that Afghanistan’s assets of about $3.5 billion in this trust fund have yielded $155 million in profit over 16 months.

The Afghan Trust Fund was established in the month September 2022 to preserve Afghanistan’s assets. Approximately 16 months have passed since its establishment.

A portion of Afghanistan’s assets valued at $3.5 billion had been deposited in this trust fund, which has yielded a profit of $155 million, but an agreement on how to utilize it has not yet been reached.

Afghanistan’s economic system and banking stability were deeply affected after the Taliban administration came to power, impacting the lives of millions. According to the United Nations Office for the Coordination of Humanitarian Affairs, the need for humanitarian assistance increased from 6.3 million in 2019 to 28.3 million people in 2023.

However, as Shah Mohammad Mehrabi, a member of the Afghan Trust Fund in Switzerland, pointed out, this trust fund was not designed for “humanitarian initiatives” and is intended to be used in a “particular manner” for economic projects.

It is worth noting that this trust fund generated about $70 million in profit in its fifth month after its establishment.

- Advertisement -

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

- Advertisement -

The World News