A former member of the Afghan Central Bank's supreme council, Shah Mehrabi, said that the $3.5 billion in Afghan assets, which was transferred to the Bank for International Settlements, has made $8.5 million in interest.
Mehrabi, who is also a member of the trust fund said that the decision regarding disbursement of the funds has not been made yet.
“Since November 2022, when the reserves were transferred to the BIS (Bank for International Settlements), $8.5 million in interest has been earned. The decision regarding disbursement of fund has not been made,” Mehrabi said.
According to Mehrabi, Afghanistan’s reserves of $3.5 billion plus $36 million in interest was transferred to the BIS on November 7, 2022, and that the amount was earned in interest prior to the transfer to the BIS.
“They should provide their reports quarterly about the interest of the Afghanistan’s assets,” said Seyar Qureshi, an economist.
Meanwhile, the Ministry of Economy said the Afghan assets should be transferred to the caretaker government in Afghanistan.
“The Afghan assets and the interest earned from the $3.5 billion should be given to the Islamic Emirate,” said Abdul Latif Nazari, deputy Minister of Economy.
The US in cooperation with the Swiss authorities have established a trust fund for the $3.5 billion Afghan assets which is half of the $7 billion in reserve of the New York Banks.
The board of trusties include two Afghans, Shah Mahmood Mehrabi, who is also a member of Da Afghanistan Bank’s supreme council and former Minister of Finance, Anwar ul-haq Ahady as well two representatives from the US and Swiss.