De Afghanistan Bank invests in US stock markets

Monday, 02 October 2017 03:28 Written by  Heart of Asia Published in Economy Read 199 times

The state-owned Central Bank of Afghanistan has invested $50 million USD in the securities of the US stock markets, the bank officials said Friday. 

 

The Central Bank spokesman Aimal Hashoor said the investment will provide the ground for acknowledgment of world stock markets.

According to the Central Bank officials, the bank has so far invested in nine securities in the US stock market. 

“We have invested over $50 million USD in US securities and this is the first experience in the country, but it is going well so far,” he said.

Economic affairs analyst Salim Toofan said the central bank keeps its reserve currency, which is billions of dollars, in cash and if this money is invested it will be circulated besides gaining profit.

“We must convince donors and partners to create the stock market here. Why we invest our money abroad?” he asked. “We need a lot of money here. We must give entrepreneurs money to increase employment and reduce unemployment rate and budget deficit in the country.” 

A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction.