The AFTF letter demanding the release of Afghan assets claiming “independence of central bank”, “run by qualified and capable leaders”, if authentic is dishonest and ill-informed at the least and possibly politically motivated and certainly not based on expert advice and facts.
Reasons - 1- The central bank was gutted of almost almost all its capacity over the last two years with almost every single cadre in middle management person. Whoever was spared either left or was replaced by the new regime;
2- Unqualified leadership with no background was installed post Aug 15, 21 trampling all central bank and banking laws (how is it independent?);
3 - There is no engagement with a credible third party monitoring (such as IMF) to attest & advice and placing a nations reserves at its disposal is risky and a betrayal of all living and future Afghans to whom the reserves belong;
4 - The letter demands nothing of Taliban on how DAB’s independence be preserved and yet it makes universal claims of (or worse, verifies) of DAB’s independence and expertise.
There are solutions to the current situation. Until a time that there is a legitimate government in place, the demands for the release of assets should be; 1- that the regime announce that DAB be fully independent and apolitical. Not object to DAB be put under conservatorship
of the IMF/other incredible international third party; 2- commit that the current Central Bank law (best in the region) & commercial bank law and all other regulations in place will be respected & not be modified; and 3- former DAB cadres to rejoin DAB & guarantee their safety;
Correction - other credible* international third party
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One last thread on the #DAB assets and then I’ll shut up.
Discussions on unfreezing DAB assets is a distraction from the real economic problems facing the country. While a limited release of the reserves helps the banking sector and households in addressing liquidity and the economy with easing US$ liquidity issues in the short run, and
& should resume immediately under credible international third party monitoring (TPM), it is NOT a cure all medicine to all economic woes, as some assume. It also absolves the regime of its responsibilities of economic management and creating a safe & conducive environment for