Prior to and immediately following the Islamic Emirate’s victory, it was anticipated that the new administration would experience significant difficulties with the banking sector, particularly when it came to safeguarding the interests of Afghan currency. Yet, it has been at least two years since the Islamic Emirate regained power. According to Da Afghanistan Bank (DAB) […]
Prior to and immediately following the Islamic Emirate’s victory, it was anticipated that the new administration would experience significant difficulties with the banking sector, particularly when it came to safeguarding the interests of Afghan currency.
Yet, it has been at least two years since the Islamic Emirate regained power. According to Da Afghanistan Bank (DAB) officials, the country received around 3 billion 140 million new Afghan banknotes in the most recent fiscal year (1401).
The head of the Bank of Afghanistan told the media that during the 1401 fiscal year, they were able to successfully sustain the “Afghani” versus other currencies.
Moreover, the Bank of Afghanistan collected 8 billion 683 million 244 thousand 419 Afghani revenues in the most recent fiscal year, an increase of 5.59 percent from the fiscal year of 1400.
The Islamic Emirate, despite international sanctions and political pressure, has surpassed expectations in the last year, according to the World Bank and economic specialists, and has been quite successful in generating cash.
An very significant development, the rise in revenue and the value of the currancy is mostly attributable to the Islamic Emirate’s dedication to hard labour, public service, and open government. If Da Afghanistan Bank (DAB) had not been able to keep the Afghani’s value stable, political pressures and international sanctions would have pushed the nation into a serious crisis and created unprecedently high prices for goods, which would have deepened poverty in the nation.
The Islamic Emirate is keen to focus more on this industry in order to turn Afghanistan from an importer to an exporter, fostering economic growth and long-term stability.
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