Afghans stressing Pakistani currency shouldn't be used in Afghanistan
September 13, 2021, 11:09 am

Afghans stressing Pakistani currency shouldn't be used in Afghanistan

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The We For News reported, Afghans are stressing that no one should use the Pakistani currency and those using it should be punished.

A number of people have reacted to a report in a Pakistani newspaper that said business deals in Afghanistan should be based on Pakistani rupees, Pajhwok News reported.

Daily Jang, a Pakistani newspaper in a report quoted the country’s Finance Minister, Shawkat Tareen as saying that Afghanistan faced shortage of dollar reserves and that would be the reason Afghanistan would make transactions in Pakistani rupees.

The report said that Tareen made the statements after International Monetary Fund (IMF) and World Bank suspended payments to Afghanistan.

Raha Press reported Pakistan’s most “shocking” economy minister has told the Senate Economic Committee that since Afghanistan is running out of dollar liquidity these days, trade with Afghanistan may be in rupees (Pakistani rupees).

It should be noted that in the past, in many cities of the country that border Pakistan, the main trade exchanges were based on the Pakistani rupee, which was met with many reactions, the report said.

Shaukat said the situation in Afghanistan was being closely monitored and Pakistan would send a team to help revive the Afghan economy.

Pajhwok News said, after these reports, Afghans launched a social media campaign titled ‘Afghani is our national identity’.

Most of the social media activists shared slogans, such as: “We are residents of Afghanistan, Afghani is our national identity and using Afghan currency is our national responsibility”.

Social media user, Abdul Kareem in a tweet said, “I will build my country myself, so I will use the currency of my own country. Every transaction in Afghanistan should be on Afghan currency.”

Another social media user, Mohammad Sayeed, addressing the Taliban, said, “Survival of Afghani is totally depended on you, if Pakistani rupees replaced the Afghani here (Afghanistan), its responsibility would be upon you and Afghans will hold you accountable.”

A number of pro-Taliban people also reacted to the issue.

Read more: The UN’s Afghan challenge

Hammad Afghan, one of them, in a tweet said, “If you want to enlighten your future and make a rich Afghanistan, you should promote our national currency (Afghani).”

Sheikh Abdul Hamid Hammasi, also a pro-Taliban Afghan, said: “If anyone values national identity and Afghanhood, then they should use Afghan currency for transactions…”

He said that Taliban should make it clear to all officials, businessmen and people that they would be punished if they used Pakistani rupees.

A number of other people held similar views and said those using foreign currencies should be punished, the report added.

Source: wefornews

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.