UNITED NATIONS: The United States on Friday further paved the way for aid to flow to Afghanistan despite US sanctions on the Taliban, who seized control of the country last month, issuing general licenses amid concern that Washington’s punitive measures could compound an unfolding humanitarian crisis.
The US Treasury Department said it issued two general licenses, one allowing the US government, NGOs and certain international organizations, including the United Nations, to engage in transactions with the Taliban or Haqqani Network — both under sanctions — that are necessary to provide humanitarian assistance.
The second license authorizes certain transactions related to the export and re-export of food, medicine and other items.
“Treasury is committed to facilitating the flow of humanitarian assistance to the people of Afghanistan and other activities that support their basic human needs,” Andrea Gacki, director of the US Treasury’s Office of Foreign Assets Control, said in the statement.
She added that Washington will continue to work with financial institutions, NGOs and international organizations to ease the flow of agricultural goods, medicine and other resources while upholding sanctions on the Taliban, Haqqani Network and others.
The United Nations said that at the start of the year more than 18 million people — about half of Afghanistan’s population — require aid amid the second drought in four years.
UN Secretary-General Antonio Guterres said last week that Afghanistan is on “the verge of a dramatic humanitarian disaster” and has decided to engage the Taliban in order to help the country’s people.
US President Joe Biden’s administration has said it is committed to allowing humanitarian work in Afghanistan to continue despite Washington listing the Taliban as a Specially Designated Global Terrorist group.
The sanctions freeze any US assets of the Islamist militant group and bar Americans from dealing with them, including the contribution of funds, goods or services.
Reuters reported last month that Washington issued a license authorizing the US government and its partners to continue to facilitate humanitarian aid in Afghanistan.
Friday’s move expands on that specific license, allowing international organizations and NGOs to pay taxes, fees, import duties or permits, licenses or other necessary transactions for assistance to reach the people of Afghanistan.
The licenses allow NGOs and foreign financial institutions to continue humanitarian assistance such as the delivery of food, shelter, medicine and medical services, including COVID-19 assistance, a Treasury spokesperson said.
“We have not reduced sanctions pressure on Taliban leaders or the significant restrictions on their access to the international financial system,” the spokesperson said.
A Taliban offensive as foreign forces withdrew from Afghanistan after a 20-year war culminated in the capture of the capital Kabul on Aug. 15, two decades after they were driven from power by a US-led campaign in the wake of the Sept. 11 attacks on the United States.
US grants licenses for more aid flow to Afghanistan despite sanctions
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US grants licenses for more aid flow to Afghanistan despite sanctions
- The US Treasury Department said it issued two general licenses
- Washington will continue to work with financial institutions, NGOs and international organizations
8 in 10 British Muslims face ‘financial faith penalty’ when seeking home finance, survey finds
- Restricted choices plague potential buyers
LONDON: Eight in 10 British Muslims say their home finance choices are restricted because of their faith, according to a new national survey that highlighted what researchers describe as a growing “financial faith penalty” in the UK housing market.
The report, published by Islamic home finance fintech firm Offa, found that 80 percent of Muslim respondents believe their religious beliefs limit their access to suitable home finance, while those who do use Islamic products often face slower decisions, heavier paperwork and poorer customer experiences than in the conventional mortgage market.
Based on surveys of 1,000 British Muslims conducted by Muslim Census, and 2,000 non-Muslims carried out by OnePoll, the research calls on providers, brokers and policymakers to modernize Islamic home finance and improve access to Sharia-compliant products.
Among the 24.3 percent of British Muslims who have used Islamic home finance, just 5 percent said they had received a same-day decision.
Some 62 percent waited up to two weeks, while 33 percent waited more than 15 days, including 16 percent who waited over a month.
Long decision times were cited as the biggest challenge by 28 percent of respondents, followed by excessive paperwork (22.6 percent) and poor customer service (18.9 percent).
Islamic home finance differs from conventional mortgages by avoiding interest and steering investment away from sectors considered harmful to society, including gambling, alcohol, tobacco, arms trading and animal testing.
Sagheer Malik, chief commercial officer and managing director of home finance at Offa, said the findings showed British Muslims were being underserved by outdated systems.
Malik said: “Property is the asset class of choice for many of the UK’s 3.87 million Muslims, both as a route to generational wealth and as a long-term financial foundation, yet our insightful research report reveals that British Muslims are being underserved and deterred by slow, outdated and opaque Islamic home finance provision.
“This is not a niche concern. It goes to the heart of financial fairness and inclusion in modern Britain.”
He added that Muslims deserved Sharia-compliant products that matched mainstream standards on “price, speed and simplicity.”
Despite strong demand, uptake remains low.
Only 12.8 percent of British Muslims surveyed said they currently use Islamic home finance, with a further 11.5 percent having done so in the past. More than three quarters (75.7 percent) have never used it.
Faith plays a central role in financial decisions, with 94.2 percent saying it is important that their financial products align with their ethical or religious beliefs. Yet more than half of those using conventional mortgages said they felt unhappy or uneasy about doing so because of their faith.
The study also found that British Muslims share similar home ownership aspirations to the wider population, with 79.1 percent citing the desire to provide a stable home for their family, while 18.6 percent said building generational wealth was their main motivation. Only 2.2 percent said they did not want to own a home.
The report suggests Islamic finance could appeal beyond Muslim communities. While 64 percent of non-Muslim respondents had never heard of Islamic home finance, 63 percent said they favored its ethical principles once explained.
Younger generations were the most receptive, with 43 percent of Generation Z and 37 percent of millennials saying they would consider using Islamic home finance, compared with just 7 percent of baby boomers. More than three quarters of Gen Z and 72 percent of millennials also said it was important that their finance provider avoided investing in ethically harmful sectors.
Offa said the findings pointed to an opportunity to expand ethical finance in the UK, provided the industry can deliver faster, simpler and more transparent services.
