News Karnataka
Monday, October 03 2022

New US license allows broader financial ties, work with Afghans

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Kabul: The US Department of Treasury announced a new general license “involving Afghanistan or governing institutions in Afghanistan” aimed to facilitate a broad range of commercial activities in the country.

In a statement released by the US State Department on Friday February 25, the new general license says that financial institutions, non-governmental organisations, international organisations, and private sector companies can engage in wide-ranging transactions and activities in Afghanistan while complying with US sanctions, TOLOnews reported.

“The affected sectors include personal and commercial banking, infrastructure development and maintenance, commercial trade, safety and maintenance operations for transportation systems, and telecommunications and information transactions,” the statement said.

According to the department, the new license enables companies and organisations to work with Afghan governing institutions and do transactions. The statement, however, said the sanctions on Islamic Emirate officials remain in place.

“Today’s action facilitates private companies and aid organisations working with Afghan governing institutions and paying customs, duties, fees, and taxes, including institutions that are headed by sanctioned individuals,” the statement added.

The statement said the new license will benefit the people of Afghanistan, stressing that the US stand with the people of Afghanistan as they work to rebuild their economy.

Previously, the Treasury Department issued multiple licenses aimed to facilitate humanitarian assistance to Afghanistan as well as sending remittances by Afghans working abroad.

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