07 October 2002

Kabul, Afghanistan: Afghanistan's new currency, introduced today, is signed by Anwar-ul-Haq Ahady, a professional banker and professor who returned to his native country this year and is now serving as a UN Volunteer under the Transfer of Knowledge Through Expatriate Nationals (TOKTEN) scheme.

Mr. Ahady holds a Ph.D. in political science and an MBA in finance and management policy. His job as governor of the central Afghanistan Bank is to implement a new banking system in the country.

Since taking up his work in July, his main priorities have been currency reform, legal reform, modernization (computerization), structural reform, banking system reform and personnel development. "We have prepared new banking laws which we will be soon submitting to the Government; we have prepared a plan for the reorganization of the bank which we hope to implement in 2003; and we have started to computerize the bank's operation," he noted.

The currency reform, however, has taken most of his time. "We will be collecting all old banknotes and destroying them. It is a massive operation and it will last for two months," he said.

The currency, still known as the afghani, was printed in Germany and Sweden in denominations of 1, 2, 5, 10, 20, 50, 100, 500 and 1,000. The new notes are to be distributed to money exchangers in Kabul over the next few days and later to provincial capitals.

The United Nations Volunteers programme (UNV), through the TOKTEN scheme, provided Mr. Ahady with a long-awaited opportunity to serve in his country. "For the past 24 years I have been very much involved in Afghan affairs," he said. "I have always had the intention to come back to Afghanistan and to help the reconstruction efforts."

"People who might participate in the TOKTEN [scheme] must already be motivated to volunteer their services; TOKTEN just facilitates the actualization of the will to serve," he added.

UNV is actively involved in reconstruction efforts in Afghanistan. Currently, some 50 United Nations Volunteers based in Afghanistan and Pakistan are providing support for activities of the Afghan Government, the United Nations Development Programme (UNDP), the United Nations High Commissioner for Refugees (UNHCR), the United Nations Development Fund for Women (UNIFEM), United Nations Office for Project Services (UNOPS) and the World Food Programme (WFP).