Taliban Finance Official Appointed as Acting Governor of Afghanistan Central Bank

"Resolving Severe Inflation and Banking Collapse"
Although Previously a Taliban Financier... No Experience in the Financial Sector

[Image source=EPA Yonhap News]

[Asia Economy Reporter Hyunwoo Lee] The Afghan armed faction Taliban has announced the appointment of its internal finance officer as the acting governor of the Central Bank of Afghanistan. This move is interpreted as an effort to reopen banks in Afghanistan, which were closed before and after the Taliban's takeover of Kabul, and to address the severe inflation problem. However, concerns are growing over greater confusion as the appointed official is known to have led illegal fundraising within the Taliban and lacks higher education related to finance.

According to Bloomberg News on the 23rd (local time), the Taliban announced in a statement that "Mohammad Idris of the Taliban Economic Commission has been appointed as the acting governor of the Central Bank of Afghanistan." Zabihullah Mujahid, Taliban spokesperson, stated, "Through Idris's appointment, we will restore the economic order of Afghanistan."

Previously, just before the fall of Kabul, Azmat Amadi, the governor of the Central Bank, fled abroad, paralyzing the central bank's functions, leading to the closure of all banks and the suspension of related government departments. Bloomberg reported that since the Taliban's occupation of Kabul, the currency value has plummeted, causing prices of essential goods to surge by more than 35% within a week.

The Taliban also stated that with Idris's appointment and Iran's resumption of oil exports to Afghanistan, the rapid inflation will soon subside. However, issues such as the suspension of civil servant salary payments and the complete shutdown of businesses are expected to be difficult to resolve.

Bloomberg pointed out that Idris's lack of education or experience in the financial sector is also a cause for concern. Idris, originally from Jawzjan Province in northern Afghanistan, is known to have been in charge of finance under former Taliban supreme leader Akhtar Mansour, who died in a drone strike in 2016, but he has never received higher education in finance nor worked as an official or employee in related fields.

Bloomberg News stated, "Idris and the Taliban Economic Commission have operated as a very secretive organization, mainly serving as the Taliban's financial officers responsible for illegal tax collection and other fundraising activities," and predicted, "If the Taliban enforces strong financial controls, the chaos could worsen."

This content was produced with the assistance of AI translation services.