Phones, Islamic books and currency exchange. Some businesses are making money out of Taliban rule
The Taliban takeover three years ago has sent Afghanistan's economy into a tailspin
KABUL, Afghanistan (AP) — Yunis Safi, a businessman in Kabul, knows very well the importance of showing off your phone if you want something done.
“In Afghanistan, your phone is your personality,” he said, smiling, a jewel-encrusted ring on each hand. One boasts an emerald, the other a fat Russian diamond. “When you go to a meeting with the government, the better your phone, the more they respect you.”
Safi runs a phone shop in the posh Shar-e-Naw neighborhood. An armed guard stands outside. The iPhone 15 Pro Max adorns the shop shelves, retailing for $1,400. He has customers ready to part with this sum of money, which may come as a surprise to some given the country’s economic woes and more than half the population relying on humanitarian aid to survive.
Afghanistan’s finances were on shaky ground even before the Taliban seized power in 2021. The budget relied heavily on foreign aid and corruption was rife. The takeover sent Afghanistan’s economy into a tailspin, billions in international funds were frozen, and tens of thousands of highly skilled Afghans fled the country and took their money with them.
