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Afghanistan Currency

Basics Of Afghan Economy
Economically speaking, Afghanistan is one of the world's poorest countries. Many years of war and political instability have left the country in ruins, and dependent on foreign aid. The main source of income in the country is agriculture, and during its good years, Afghanistan produces enough food and food products to provide for the people, as well as to create a surplus for export. The major food crops produced are: corn, rice, barley, wheat, vegetables, fruits and nuts. In Afghanistan, industry is also based on agriculture, and pastoral raw materials. The major industrial crops are: cotton, tobacco, madder, castor beans, and sugar beets. Sheep farming is also extremely valuable. The major sheep product exports are wool, and highly prized Karakul skins. Afghanistan is a land that is rich in natural resources. There are numerous mineral and precious stone deposits, as well as natural gas and yet untapped petroleum stores. Some of these resources have been exploited, while others have remained relatively unexploited.

The unit of money in Afghanistan is the Afghani, divided into 100 puls. The fiscal year is from 21 March—20 March.

Abdul Majid Zabuli
(Founder of the Afghan Banking System)

Abdul Majid Zabuli was the founder of Afghanistan's banking system and through it developed the economy, imported and installed plants and factories such as power plants, textile mills and others. Zabuli founded the Ashami company in 1932, and it eventually developed into the Afghan National Bank (Bank-i-Milli Afghanistan). Up until the 1990s the Afghan National Bank had seven branches in Kabul, and ten in other provinces. It also had offices in such cities as Karachi (Pakistan), Hamburg (Germany), London (England), and New York (USA). He also founded the Da Afghanistan Bank, and the Industrial bank. He was educated in Herat and later at Tashkent. He became Minister of National Economy in 1936 and served his country in this position until the 1950s. He was born in August of 1896, and he died in November of 1998. Zabuli was very much concerned with the young Afghan generation and he used his wealth to support various forms of education and assistance for them.

New Afghani Banknotes

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