Pakistan’s prime minister gave a warning on Sunday of imminent chaos in neighbouring Afghanistan, which, if it happens, will not be in any country’s interests.
Prime Minister Imran Khan made the comments during an Organisation of Islamic Co-operation meeting in Islamabad, held to discuss the situation in Afghanistan amid deteriorating humanitarian and economic conditions in the war-ravaged country.
“My big worry is that unless action is taken immediately, we are heading for chaos. But chaos does not suit anyone. It certainly doesn't suit the United States,” Mr Khan said during the opening session.
Following the Taliban takeover in August most international donors suspended funding to the aid-dependent nation, which pushed millions deeper into poverty and food insecurity.
Foreign ministers and representatives from the 57-member coalition said they would on Sunday work on a road map to help prevent a collapse that would cause the mass departure of Afghan refugees and put the country again at risk of becoming a haven for international terrorists.
Speaking after the summit, Pakistan's foreign minister said the OIC had agreed a number of measures, including the setting up of a humanitarian trust fund.
The body would also launch a food security programme, appoint a special representative to Afghanistan and look at ways to disburse any money raised so it would reach those who need it.
“There's a collective feeling that we have to unlock financial and banking channels because the economy cannot function and people cannot be helped without banking services,” Shah Mahmood Qureshi said.
Speakers at the summit underlined stark warnings about the scale of the crisis in Afghanistan, where hundreds of thousands of government workers' salaries have gone unpaid and the banking sector has become paralysed.
UN estimates show some 23 million Afghans cannot feed themselves and more than three million children are at risk of malnutrition. More than a million are at risk of dying of hunger.
Martin Griffiths, the UN Undersecretary General for Humanitarian Affairs, told delegates the country was in free-fall.
“I fear that this fall with pull down the entire population with it,” he said.
Three quarters of the Afghan government budget was funded by foreign donors before the Taliban takeover and that money stopped overnight when the insurgents took power in August.
The US has frozen around $9 billion of Afghanistan's foreign reserves. Its sanctions against Taliban leaders mean the country is being shunned by international banks.
But Mr Khan said America had to separate ordinary Afghans from their former Taliban foes.
“I address the United States specifically that they must de-link the Afghanistan government from the 40 million Afghan citizens,” he said. “Even if they have been in conflict with the Taliban for 20 years.”
He urged caution in tying recognition and engagement with the new Afghan regime to Western ideals of human rights.
“Every country is different, every society's idea of human rights is different,” he said.
Mr Qureshi, Pakistan's foreign minister, said the deepening crisis could bring mass hunger, a flood of refugees and a rise in extremism.
“The consequences of a major humanitarian crisis and economic collapse in Afghanistan will be horrendous: massive human suffering, mass departure of Afghan refugees, radicalisation, terrorism, and instability, with grave consequences for regional and international peace and security,” he said. “We must not allow this to happen.”
Dr Muhammad Al Jasser, president of the Islamic Development Bank, said the lender would volunteer to administer a humanitarian trust fund that would provide not just food, but also salaries to civil servants and the state.
Sunday's summit marks the latest attempt by Pakistan to get the world to re-engage with Afghanistan after the Taliban takeover. Afghanistan's neighbour fears it will be left to deal with an influx of refugees that it can ill afford, if the country's crisis worsens.
The scale of the challenge was underlined by reminders to delegates that the OIC first held an emergency summit to address Afghanistan's woes in January 1980, just after the Soviet invasion.
Tamim Asey, a former Afghan deputy defence minister and now chief executive of the Institute of War and Peace Studies think tank, said on Twitter he was not optimistic the body could deliver.
“The OIC track record in Afghanistan is symbolic and filled with declarations of no worth or value. On this summit, the best one can expect is a lot of photo ops, media fanfare, a declaration and some planeloads of humanitarian aid.”
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Tips to keep your car cool
- Place a sun reflector in your windshield when not driving
- Park in shaded or covered areas
- Add tint to windows
- Wrap your car to change the exterior colour
- Pick light interiors - choose colours such as beige and cream for seats and dashboard furniture
- Avoid leather interiors as these absorb more heat
Our legal advisor
Ahmad El Sayed is Senior Associate at Charles Russell Speechlys, a law firm headquartered in London with offices in the UK, Europe, the Middle East and Hong Kong.
Experience: Commercial litigator who has assisted clients with overseas judgments before UAE courts. His specialties are cases related to banking, real estate, shareholder disputes, company liquidations and criminal matters as well as employment related litigation.
Education: Sagesse University, Beirut, Lebanon, in 2005.
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Why seagrass matters
- Carbon sink: Seagrass sequesters carbon up to 35X faster than tropical rainforests
- Marine nursery: Crucial habitat for juvenile fish, crustations, and invertebrates
- Biodiversity: Support species like sea turtles, dugongs, and seabirds
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Tributes from the UAE's personal finance community
• Sebastien Aguilar, who heads SimplyFI.org, a non-profit community where people learn to invest Bogleheads’ style
“It is thanks to Jack Bogle’s work that this community exists and thanks to his work that many investors now get the full benefits of long term, buy and hold stock market investing.
Compared to the industry, investing using the common sense approach of a Boglehead saves a lot in costs and guarantees higher returns than the average actively managed fund over the long term.
From a personal perspective, learning how to invest using Bogle’s approach was a turning point in my life. I quickly realised there was no point chasing returns and paying expensive advisers or platforms. Once money is taken care off, you can work on what truly matters, such as family, relationships or other projects. I owe Jack Bogle for that.”
• Sam Instone, director of financial advisory firm AES International
"Thought to have saved investors over a trillion dollars, Jack Bogle’s ideas truly changed the way the world invests. Shaped by his own personal experiences, his philosophy and basic rules for investors challenged the status quo of a self-interested global industry and eventually prevailed. Loathed by many big companies and commission-driven salespeople, he has transformed the way well-informed investors and professional advisers make decisions."
• Demos Kyprianou, a board member of SimplyFI.org
"Jack Bogle for me was a rebel, a revolutionary who changed the industry and gave the little guy like me, a chance. He was also a mentor who inspired me to take the leap and take control of my own finances."
• Steve Cronin, founder of DeadSimpleSaving.com
"Obsessed with reducing fees, Jack Bogle structured Vanguard to be owned by its clients – that way the priority would be fee minimisation for clients rather than profit maximisation for the company.
His real gift to us has been the ability to invest in the stock market (buy and hold for the long term) rather than be forced to speculate (try to make profits in the shorter term) or even worse have others speculate on our behalf.
Bogle has given countless investors the ability to get on with their life while growing their wealth in the background as fast as possible. The Financial Independence movement would barely exist without this."
• Zach Holz, who blogs about financial independence at The Happiest Teacher
"Jack Bogle was one of the greatest forces for wealth democratisation the world has ever seen. He allowed people a way to be free from the parasitical "financial advisers" whose only real concern are the fat fees they get from selling you over-complicated "products" that have caused millions of people all around the world real harm.”
• Tuan Phan, a board member of SimplyFI.org
"In an industry that’s synonymous with greed, Jack Bogle was a lone wolf, swimming against the tide. When others were incentivised to enrich themselves, he stood by the ‘fiduciary’ standard – something that is badly needed in the financial industry of the UAE."
Milestones on the road to union
1970
October 26: Bahrain withdraws from a proposal to create a federation of nine with the seven Trucial States and Qatar.
December: Ahmed Al Suwaidi visits New York to discuss potential UN membership.
1971
March 1: Alex Douglas Hume, Conservative foreign secretary confirms that Britain will leave the Gulf and “strongly supports” the creation of a Union of Arab Emirates.
July 12: Historic meeting at which Sheikh Zayed and Sheikh Rashid make a binding agreement to create what will become the UAE.
July 18: It is announced that the UAE will be formed from six emirates, with a proposed constitution signed. RAK is not yet part of the agreement.
August 6: The fifth anniversary of Sheikh Zayed becoming Ruler of Abu Dhabi, with official celebrations deferred until later in the year.
August 15: Bahrain becomes independent.
September 3: Qatar becomes independent.
November 23-25: Meeting with Sheikh Zayed and Sheikh Rashid and senior British officials to fix December 2 as date of creation of the UAE.
November 29: At 5.30pm Iranian forces seize the Greater and Lesser Tunbs by force.
November 30: Despite a power sharing agreement, Tehran takes full control of Abu Musa.
November 31: UK officials visit all six participating Emirates to formally end the Trucial States treaties
December 2: 11am, Dubai. New Supreme Council formally elects Sheikh Zayed as President. Treaty of Friendship signed with the UK. 11.30am. Flag raising ceremony at Union House and Al Manhal Palace in Abu Dhabi witnessed by Sheikh Khalifa, then Crown Prince of Abu Dhabi.
December 6: Arab League formally admits the UAE. The first British Ambassador presents his credentials to Sheikh Zayed.
December 9: UAE joins the United Nations.
Who was Alfred Nobel?
The Nobel Prize was created by wealthy Swedish chemist and entrepreneur Alfred Nobel.
- In his will he dictated that the bulk of his estate should be used to fund "prizes to those who, during the preceding year, have conferred the greatest benefit to humankind".
- Nobel is best known as the inventor of dynamite, but also wrote poetry and drama and could speak Russian, French, English and German by the age of 17. The five original prize categories reflect the interests closest to his heart.
- Nobel died in 1896 but it took until 1901, following a legal battle over his will, before the first prizes were awarded.