Impoverished Afghan women are receiving emergency aid in crypto as the Taliban limits cash withdrawals

2022-01-23 06:56:00 PM
Impoverished Afghan women are receiving emergency aid in crypto as the Taliban limits cash withdrawals

Impoverished Afghan women are receiving emergency aid in crypto as the Taliban limits cash withdrawals

Impoverished Afghan women are receiving emergency aid in crypto as the Taliban limits cash withdrawals

The founder of a coding school for women in Herat is sending Binance payments to her neediest students amid a cash crunch and collapsing economy.

of Afghans don't have enough to eat, according to the World Food Programme.The situation is particularly"horrifying" for the nation's women, Forough said, many of whom have been forced out of jobs and into poverty.On top of being desperately hungry, she explained that many of her female students have struggled to pay for medicine and internet access.

Forough said she wanted to send emergency payments to these women, but, frustratingly, most of her transactions were blocked by Western Union and JPMorganChase. Once some of the money did eventually go through, often, her students were unable to withdraw cash at local banks.

Read more: Business Insider SA🇿🇦 » Facing hunger, some desperate Afghans are selling their kidneys for money

Facing hunger, some desperate Afghans are selling their kidneys for moneyFive months into Taliban rule, Afghans tell Insider they've donated a kidney or dangerous amounts of blood out of desperation to feed their families. So sad, we often use the term selling a kidney to make expensive purchases yet there it is to keep themselves alive (barely)

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Gauteng paramedics march against attacks by criminalsKekeletso Lesesa, an emergency care officer based at the OR Tambo Memorial Hospital in Ekurhuleni, and her partner were mugged by three armed men while attending to an emergency maternity call. Go for it!! It is a very sad day when our Paramedics get attacked!!! When will the 12 from the July looting be arrested?

Russia's central bank is calling for a sweeping ban on crypto activity from mining to tradingThe bank proposed three amendments to existing rules, which include a ban on the trading and mining of digital assets.

This app converts crypto into vouchers you can use at Checkers, Pick n Pay, and Steers

This app converts crypto into vouchers you can use at Checkers, Pick n Pay, and SteersUsing crypto, users can purchase vouchers that can either be spent at 6Dot50's network of merchants, or be retrieved at Pick n Pay. BISouthAfrica bitrefill been there done that. 🙏 🇿🇦🕯️ Hope checkers PNP make it an easier experience BISouthAfrica Why you telling this to the people, we dont benefit from it, we live in a poverish life and you conning them into scams in hopes they can be saved

These were the 5 worst performing cryptos over the past week amid the bitcoin bear marketWith more than 17,000 cryptocurrencies in existence and counting, there are more than triple the number of crypto coins than there are US stocks.

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Prepare for higher inflation and interest rates – how robust is your portfolio?How higher inflation resulting in higher interest rates impacts your investments: MariusFenwick of WealthUp explains... investing financialplanning A pity the writer uses the wrong terms for the change in repo rates. Not 0.25% but either 0.25 percentage points or 25 basis points. Makes me wonder… May God continue to bless ChristoperMabel never believe it going to workout because I have lost a lot in different places...I know one day they will face the judgment I really appreciate ChristoperMabel

an overwhelming majority (98%) of Afghans don't have enough to eat, according to the World Food Programme.pledged $308 million"to support vulnerable Afghans" in 2022.JOHANNESBURG - Gauteng Emergency Medical Services workers on Friday marched against the ongoing attacks on paramedics in the province.report entitled"Cryptocurrencies: trends, risks, measures," the central bank laid out the threats posed by digital assets.

The situation is particularly"horrifying" for the nation's women, Forough said, many of whom have been forced out of jobs and into poverty. On top of being desperately hungry, she explained that many of her female students have struggled to pay for medicine and internet access." Boys offer to carry goods with wheelbarrows to earn a pocket money near an aid distribution site in Kabul on Dec. Forough said she wanted to send emergency payments to these women, but, frustratingly, most of her transactions were blocked by Western Union and JPMorganChase. #StopAttacksonEMS Paramedics marched in Reiger Park to raise awareness following recent attacks on personnel. Once some of the money did eventually go through, often, her students were unable to withdraw cash at local banks. Bilal Guler/Anadolu Agency via Getty Images Though there has been an organ trade in Afghanistan for a decade or more, it was usually an option for the poorest and most desperate people that was largely hidden from public view – discussed only in hushed tones. Bank withdrawals are severely limited due to a shortage of paper money and the Taliban being unable to get its hands on the Afghan central bank's almost $10 billion (R151 billion) in reserves that US sanctions have frozen. "Just as dollarisation, cryptoisation limits monetary policy sovereignty, which might force central bank to permanently maintain a higher key rate in order to contain inflation," the report said.

KABUL, AFGHANISTAN - SEPTEMBER 29: A member of the Taliban stands amongst people waiting to withdraw money outside a bank on September 29, 2021 in Kabul, Afghanistan. In 2020, at least of the population lived below the poverty line, despite billions in annual foreign aid.twitter. It has been a month since the banks started operating in Afghanistan, but despite this period, the activity of these banks has not returned to normal. (Photo by Husnul Mahab Azizi ATPImages/Getty Images) As The Intercept first reported, Forough came up with an ingenious solution — sending emergency aid payments using cryptocurrency. The 'One kidney' village A few years ago, one village in the outskirts of Herat, Se Shanba Bazar, became known locally as"the one kidney village" because so many people there had become kidney donors. "We found that actually there are a bunch of local money exchanges in the financial district of Herat that are accepting crypto and they can cash it out for you in either Afghanis or dollars," she said.  She helped her students create Binance accounts Code to Inspire selected 100 of the neediest students and built a relationship with — the world's largest crypto exchange — which agreed to sponsor three months of cash assistance to the students. In 2021, Tolo News reported that, since 2016, at least 200 kidneys had been sold illegally every year in province of Herat. It creates unproductive consumption of electric power, which threatens the power supply of residents and businesses.

"We then helped all 100 girls to create a Binance account through Trust Wallet," Forough said. At first, she explained, it was"very difficult" because many of them didn't have smartphones or lacked the technological literacy needed to create a wallet. Today, according to interviews, the main cause has been the twin crises of unemployment and access to cash that have come since the Taliban takeover. But Code to Inspire put out an educational video to teach them how to. Now some of the girls, she explained, have the crypto knowledge to immediately convert Binance to Tether USD (USDT) to try and circumvent massive fluctuations in value. Meanwhile, the black market for kidneys continues to operate. USDT, as with other stablecoins, is pegged to the US dollar and is considered less volatile than other cryptocurrencies.

Forough said that donating cryptocurrencies holds many advantages for the women in Afghanistan, including a reduced risk in the money being confiscated. "It's a deal between the buyer and the seller. "And if they got displaced from Afghanistan or any part of Afghanistan, they can also carry their finances with themselves everywhere they go," she continued."That, to me, is empowering. Poverty is real and huge here." Get the best of our site .