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Oh my god.
By Surinder Singh Oberoi
New Delhi: The United States, through the Department of the Treasury and the Department of State, and in coordination with international partners including the government of Switzerland and Afghan economic experts, announced the establishment of a fund to benefit the people of Afghanistan or the “Afghan Fund.”
Interestingly Taliban are not a part of the Afghan Fund. Also, Da Afghanistan Bank (DAB) is crippled and there is no world guarantee or accountability if money is transferred to the Afghan Bank and is not confiscated.
“The United States remains committed to supporting the people of Afghanistan amidst ongoing economic and humanitarian crises. Pursuant to Executive Order (E.O.) 14064, President Biden set a policy of enabling $3.5 billion of Afghan central bank reserves to be used for the benefit of the people of Afghanistan while keeping them out of the hands of the Taliban and other malign actors. The Afghan Fund will protect, preserve, and make targeted disbursements of that $3.5 billion to help provide greater stability to the Afghan economy, “ the press release issued jointly by the State and treasury department of the US read.
The press release further read that “The Taliban are not a part of the Afghan Fund, and robust safeguards have been put in place to prevent the funds from being used for illicit activity.”
Afghan Fund account in Swiss BIS Bank
The Afghan Fund will maintain its account with the Bank for International Settlements (BIS) based in Switzerland. The BIS is an international financial organization that provides a range of financial services, including banking services to central banks. An external auditor will monitor and audit the Afghan Fund as required by Swiss law.
The international board of experts is tasked to ensure that strict compliance with anti-money laundering and terrorist financing protocols is maintained in all circumstances including third-party supervision of the funds once handed over to the Taliban government.
Humanitarian Crisis
“The people of Afghanistan face humanitarian and economic crises born of decades of conflict, severe drought, COVID-19, and endemic corruption,” said Wendy Sherman, United States Deputy Secretary of State.
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