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Afghanistan's Central Bank Cracks Down on Unlicensed Currency Exchangers

Noor Ahmad Agha, acting head of the Central Bank, in a meeting with representatives of the Money Exchange Union, said that the Central Bank strives to further mechanize this sector to improve the activities of money exchanges and financial service providers.

This meeting follows the ban on activities of unlicensed money exchangers and street vendors in the currency markets.

According to the bank's spokesperson, the union representatives affirmed during the meeting that they would continue their operations based on the central bank’s regulations.

Hasibullah Noori, the spokesman of the Central Bank of Afghanistan, said: "In this meeting, the acting governor of the Central Bank reiterated the bank’s commitment to creating a reliable and secure environment in the financial and money exchange sector and will continue its efforts in this regard."

The Union of Money Exchangers of Sarai Shahzada said that most unlicensed exchangers and street vendors who were active in the currency markets are now in limbo and the central bank should address this issue.

"Every licensed exchanger should guarantee three street vendors and provide them with a card to operate, or they should get a license from the central bank to register them ,” said Abdul Rahman Zirak, a spokesman for the union.

Abdulbasir Turki, an economic affairs expert, said: "Street exchangers do not pose a serious threat to Afghanistan's financial stability and system, and on the other hand, the level of poverty is high and job opportunities are very limited."

Previously, the central bank issued a decree banning the activities of unlicensed street exchangers.

Afghanistan's Central Bank Cracks Down on Unlicensed Currency Exchangers

This meeting follows the ban on activities of unlicensed money exchangers and street vendors in the currency markets.

تصویر بندانگشتی

Noor Ahmad Agha, acting head of the Central Bank, in a meeting with representatives of the Money Exchange Union, said that the Central Bank strives to further mechanize this sector to improve the activities of money exchanges and financial service providers.

This meeting follows the ban on activities of unlicensed money exchangers and street vendors in the currency markets.

According to the bank's spokesperson, the union representatives affirmed during the meeting that they would continue their operations based on the central bank’s regulations.

Hasibullah Noori, the spokesman of the Central Bank of Afghanistan, said: "In this meeting, the acting governor of the Central Bank reiterated the bank’s commitment to creating a reliable and secure environment in the financial and money exchange sector and will continue its efforts in this regard."

The Union of Money Exchangers of Sarai Shahzada said that most unlicensed exchangers and street vendors who were active in the currency markets are now in limbo and the central bank should address this issue.

"Every licensed exchanger should guarantee three street vendors and provide them with a card to operate, or they should get a license from the central bank to register them ,” said Abdul Rahman Zirak, a spokesman for the union.

Abdulbasir Turki, an economic affairs expert, said: "Street exchangers do not pose a serious threat to Afghanistan's financial stability and system, and on the other hand, the level of poverty is high and job opportunities are very limited."

Previously, the central bank issued a decree banning the activities of unlicensed street exchangers.

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