Taliban minister raises return of deported Afghans’ assets in Pakistan visit

Detained Afghan refugees sit in a van during a search operation to identify alleged illegal immigrants, on the outskirts of Karachi on November 17, 2023. (AFP)
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Updated 17 November 2023
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Taliban minister raises return of deported Afghans’ assets in Pakistan visit

  • Nooruddin Azizi says Afghan and Pakistani authorities discussed how to reinstate banking transactions for traders
  • Afghanistan and Pakistan may use the Chinese currency to settle international payments between them

ISLAMABAD: The Taliban’s acting commerce minister said he had asked Pakistan to help return the assets of expelled Afghans and discussed ways to overcome Afghanistan’s stalled banking sector transactions during a four-day visit to Islamabad this week.

Acting minister Nooruddin Azizi’s arrival in the Pakistani capital marked the first public visit by a senior Taliban official since Pakistan announced its policy to deport thousands of undocumented Afghans and other foreign citizens after Nov. 1.

It comes just a week after Pakistan’s caretaker Prime Minister said its expulsion plan was a response to the unwillingness of the Taliban-led administration to act against militants using Afghanistan to carry out attacks in Pakistan.

The Taliban have said the security issues are a domestic matter for Islamabad and called on Pakistan to stop deportations.

Azizi said in an interview with Reuters on Thursday night that the negotiations had mainly focused on trade issues and had been “friendly.” He said Pakistan officials had raised counter-terrorism issues and he had reiterated the Taliban’s policy that Afghan soil would not be used against other nations.

Azizi said a major focus of the visit had been raising the problem of Afghan deportees being unable to return their assets from Pakistan. He said that the Afghan embassy’s charge d’affaires in Islamabad and Pakistan’s foreign office would work on a “detailed roadmap” on how the assets could be returned but said it would take time.

“This is not a matter of 10 people or 100 people, this is a matter of 1.7 million people,” Azizi said.

Afghan citizens returning to Afghanistan have said there are restrictions on the transfer of cash and property from Pakistan, where many had built businesses and homes for decades. Over 350,000 Afghans have returned, many in temporary shelters near the border.

“Winter is coming, and … the migrants are having many problems, their medicine and health issues, their food ... we have many problems ahead and this is a very big challenge for the Islamic Emirate,” Azizi said, referring to the Taliban’s name for its government.

BANKING TALKS

Azizi took part in a meeting on Wednesday between Pakistan and Uzbekistan, who agreed to boost trade, including “enhancing and expanding the banking system.”

Afghanistan’s banking sector has been severely hampered since the Taliban took over in 2021 as foreign banks limited transactions due to concerns over breaching anti-money laundering regulations and international sanctions against some Taliban leaders.

Azizi said that officials from Pakistan and Afghanistan’s commerce ministries had agreed to work on draft proposals within a month on how they could reinstate banking transactions for traders.

He hoped that Pakistani banks that already have branches in Afghanistan could re-start transactions between the two countries.

He added that he would prefer Afghan banks use its previous banking channels like SWIFT, but they were considering using China’s currency to settle international payments between Afghanistan and Pakistan.

“We have to find another solution, we are in need ... (China) is a huge economic power of the world at the moment, their currency has good stability ... we are thinking about it, we haven’t taken decision about it,” he said.

Pakistan’s commerce minister and a spokesman for the commerce ministry did not respond to request for comment.


Pakistan regulator amends law to facilitate capital raising by listed companies

Updated 19 January 2026
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Pakistan regulator amends law to facilitate capital raising by listed companies

  • The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue
  • Previously, listed companies were prohibited from announcing a rights issue if the company, officials or shareholders had any overdue amounts

KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has notified amendments to the Companies (Further Issue of Shares) Regulations 2020 to facilitate capital raising by listed companies while maintaining adequate disclosure requirements for investors, it announced on Monday,

The amendments address challenges faced by listed companies when raising further capital from existing shareholders through a rights issue. Previously, listed companies were prohibited from announcing a rights issue if the company, its sponsors, promoters, substantial shareholders, or directors had any overdue amounts or defaults appearing in their Credit Information Bureau (CIB) report.

This restriction constrained financially stressed yet viable companies from raising capital, even in circumstances where existing shareholders were willing to support revival, restructuring, or continuation of operations, according to the SECP.

“Under the amended framework, the requirement for a clean CIB report will not apply if the relevant persons provide a No Objection Certificate (NOC) regarding the proposed rights issue from the concerned financial institution(s),” the regulator said.

The notification of the amendments follows a consultative process in which the SECP sought feedback from market stakeholders, including listed companies, issue consultants, professional bodies, industry associations, law firms, and capital market institutions.

The amendments are expected to enhance market confidence, improve access to capital for listed companies, and strengthen transparency within the rights issue framework, according to the SECP.

“To ensure transparency and protect investors’ interests, companies in such cases must make comprehensive disclosures in the rights offer document,” the regulator said.

“These disclosures must include details of any defaults or overdue amounts, ongoing recovery proceedings, and the status of any debt restructuring.”

The revised regulations strike an “appropriate balance” between facilitating corporate rehabilitation and enabling investors to make informed investment decisions, the SECP added.