A newly established financial services provider has provided opportunities for Afghan investors and youths to play world stock markets and start up online businesses.
The company, Vision Financial Services, was established a year ago and has since then created over 5,000 accounts for Afghan citizens for online businesses. As a result they can carry out online businesses and play the stock markets.
The financial company teaches their clients how to set up online systems and how to buy into the stock markets.
After this, and with anything between $100 USD and $100,000 USD, members of the public can open a Vision Financial Services account and purchase and sell shares on foreign markets.
Sales and relations officer of Vision Financial Services, Musafir Khurasani, said users install a software program on their smartphones and create an account. They also have access to updated stock prices on global markets.
Consultants are also available to advise clients and help with any online business problems.
“We offer services to our customers and also advise them to invest in a better way in these markets,” Khurasani said.
Afghanistan’s Central Bank (ACB) meanwhile said due to the lack of regulations in place, they were not able to issue a trading license to the company, but they have allowed the company to start up but on condition that if anything goes wrong, the ACB will not be held responsible.
“Before this they could invest in the worl'd markets up to any amount they wanted, but now we have limited this to $100,000 USD,” ACB spokesman Aimal Hashoor said.
Following the establishment of Vision Financial Services in Afghanistan, mostly Afghan youths have started online businesses.
Ahmad Wali sells clothes and has just graduated from 12th grade. He says after many years of running an ordinary business he turned to online and is now making a profit.
“I lost money several times and then I took the training and then was able to make more profit. Now I have made double the profit than my original investment,” said Wali.
“A big number of jobless youths can earn money through these services,” said Mahdi Rezaee, a resident of Kabul city.
World Financial Markets are the biggest stock markets and every 60 seconds hundreds of millions of dollars is traded. However, Afghans have had little exposure to stock markets.