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US releases $100 Million for Afghanistan through the New Development Partnership

The United States Government and the Ministry of Finance of Afghanistan signed a letter for the disbursement of $100 million to the National Unity Government (GNU) for reaching milestones under the New Development Partnership (NDP). As part of the ongoing

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Resolute Support updates its Contracting in Afghanistan Guidelines

New FAQ for military contractors. Resolute Support has issued a new version of its Contracting in Afghanistan BSA/SOFA Guidelines, available here. More information about licensing, visas, weapons permits and taxes is available here, with supporting documents here. Business license renewal options.

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Two eligible buyers of New Kabul Bank to submit their proposals

The Afghan Finance Ministry announced on Tuesday the names of two eligible buyers of the New Kabul Bank. The two firms interested in buying the New Kabul Bank are a local firm, Join-Stock Company, and the Muslim Commercial Bank of

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Afghan government signs 2 agreements worth $128mn with World Bank

The World Bank signed two grant agreements worth USD 128mn with Afghan Ministry of Finance on Saturday. According to a statement from the Finance Ministry, the grants are allocated for two projects: USD 45mn for the On-Farm Water Management Project

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Afghan government collects 7% more customs revenue this year

Afghan Ministry of Finance has collected 54.68bn AFN in customs revenue this year, which is up by 7% over last year’s earnings. The revenue stood at 51.98bn AFN during the first six months last year. The boost in revenue comes

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Afghanistan’s revenue collection system computerized

Afghanistan’s Ministry of Finance (MoF) computerized the system for revenue collection of custom and revenue departments by signing a Memorandum of Understanding (MoU) with Afghanistan’s Central Bank, Da Afghanistan Bank (DAB). The system was activated on Saturday upon the signing

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Afghan government’s revenue drops by 8% in 2014

Afghan Finance Ministry recorded 109bn AFN in 2014 revenue, while the target for revenue collection had been set 132bn AFN. The 8% decline in revenue is attributed to the growing insecurity and the prolonged election earlier this year. Most of

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Afghanistan’s internal revenue drops by 27%

Afghan Ministry of Finance (MoF) has again warned about the prolonged elections process lowering down the country’s internal revenue. According to MoF, the internal revenue of Afghanistan has dropped by over 27% in the first six months of this year.

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Decline in aid causes deficit in Afghanistan’s development budget

Afghan Ministry of Finance has expressed concerns over the decline in aid from donor countries. The inflow of aid has slowed down lately due to the prolonged election process and uncertainty about Afghanistan’s political instability. Spokesperson for the Finance Minister,

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Afghanistan’s 2014 budget approved by Lower House

The Lower House of the Afghan Parliament approved the budget for the year 2014 by majority. The first draft of the budget was rejected when it was first proposed by the Ministry of Finance. Finding the budget unbalanced, lawmakers said

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48% of development budget spent so far-Afghan Ministry of Finance

According to Afghan Ministry of Finance, Afghan government has spent only 48% of the development budget so far. With six days to the end of fiscal year, the total expenditure by the Afghan government is expected to rise over 50%.

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New Kabul Bank running in a loss

According to Ministry of Finance (MoF) officials, the New Kabul Bank is running in a loss since the past 4 years. Director of the treasury at the MoF, Mohammad Aqa Kohistani, the New Kabul Bank has faced a loss of

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Privatization process of New Kabul Bank re-launched

Afghan Ministry of Finance has re-launched the privatization process of the New Kabul Bank. Mohammad Aqa Kohistani, director of treasury at the Ministry, promised a transparent bidding process for the privatization of the bank. National and international investors are expected

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World Bank donates USD 75mn to Afghan Agriculture Ministry

In a bid to strengthen Afghanistan’s agriculture sector, the World Bank (WB) granted USD 75mn in aid to the Afghan Agriculture and Livestock Ministry. An agreement to that effect was signed between Afghanistan’s Finance Ministry and officials of the World

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World Bank donates USD 75mn to Afghan Agriculture Ministry

In a bid to strengthen Afghanistan’s agriculture sector, the World Bank (WB) granted USD 75mn in aid to the Afghan Agriculture and Livestock Ministry. An agreement to that effect was signed between Afghanistan’s Finance Ministry and officials of the World

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World Bank donates USD 75mn to Afghan Agriculture Ministry

In a bid to strengthen Afghanistan’s agriculture sector, the World Bank (WB) granted USD 75mn in aid to the Afghan Agriculture and Livestock Ministry. An agreement to that effect was signed between Afghanistan’s Finance Ministry and officials of the World

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World Bank donates USD 75mn to Afghan Agriculture Ministry

In a bid to strengthen Afghanistan’s agriculture sector, the World Bank (WB) granted USD 75mn in aid to the Afghan Agriculture and Livestock Ministry. An agreement to that effect was signed between Afghanistan’s Finance Ministry and officials of the World

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Afghanistan to export gas to Tajikistan

Afghanistan and Tajikistan are discussing plans for exporting gas from Jawzjan province to Tajikistan. Afghan Finance Minister Dr. Hazrat Omar Zakhilwal met with Tajik Energy and Industry Minister Gul Sherali while visiting Tajikistan to attend an International Conference on Water

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Afghan High Economic Council approves investment policy

The investment policy prepared by the Ministries of Finance and Commerce and Industries was approved by the High Economic Council (HEC) on Thursday. The policy is aimed at luring investors in the construction, agriculture, development, export and mining sectors of

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Afghan Insurance Commission making efforts to institutionalize insurance

The Afghan Insurance Commission of the Ministry of Finance has undertaken public awareness programs in a bid to develop insurance culture among the general public and to institutionalize insurance in the country. As part of their efforts, the Commission has

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Afghanistan levies USD 1bn illicit taxes on US-funded projects-SIGAR

The Special Inspector General for Afghanistan Reconstruction (SIGAR) has said the Afghan Ministry of Finance has imposed nearly USD 1bn in business taxes since 2008. According to the report issued by SIGAR, the ‘illegitimate’ taxes are levied on 43 contractors

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Afghan Finance Ministry to shut down 5 hotels and restaurants

The Ministry of Finance has warned to shut down 5 hotels and restaurants operating in Kabul City if they do not make their tax payments in-time. “The hotels and restaurants, including Sham-e-Paris, Qasr-e-Paris, Roshan Marcopolo, Boccaccio Restaurant, and Mumtaz Hotel

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Afghan Finance Ministry appoints new top officials

Finance Minister Hazrat Omar Zakhilwal had proposed a reshuffle of top officials which have been approved by the President. The reshuffle includes changing of 34 senior officers. Former Chief of Pashtany Bank Gul Maqsood Sabi has been appointed as the

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Finance Ministry’s new efforts towards enhancing investment in Afghanistan

Finance Minister Hazrat Omar Zakhilwal discussed the policy draft on how to encourage investment with the Council of Ministers on Tuesday. Attracting investment, preventing capital flight, creating more jobs and lessening people’s concerns about the economic slowdown are the main

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Dismissal of contractor teachers by the Ministry of Finance

According to a new government ruling, the Ministry of Finance has approved the dismissal of contractor teachers effective December 21st. Nearly 5,000 contractor teachers are likely to lose their jobs. Their education level is lower than 12th grade, and the

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