Taliban halts insurance industry in Afghanistan

Kabul [Afghanistan], March 18 : Taliban has suspended the operations of insurance companies in Afghanistan.
In a letter to the insurance companies, the acting government in Afghanistan has announced that all the activities of the public and private insurance firms must be halted until future notice, Khaama Press reported.
The letter further stated that the spirit of the insurance industry is under discussion in the Science Academy of Afghanistan to decide whether it is against Islamic practices or not.
Taliban rule in Afghanistan faces an economic crisis following its takeover. The Afghan economy has gone from bad to worse and could lead to total collapse, reports the Asia Times.
Hundreds of companies, organizations and projects were shut down.
According to Afghan media, several private insurance companies in addition to a government-owned insurance entity, have invested and carried out financial risks.
Notably, the situation of human rights in Afghanistan has worsened since the collapse of the previous Afghan government.
Although the fighting in the country has ended, serious human rights violations continue unabated.
Moreover, people in Afghanistan are also facing an unprecedented humanitarian crisis which is being driven by decisions and positions taken by the international community, especially the US, that have blocked Afghanistan from aid funding and access to the global financial system.