Dozens of forex traders in Kabul on Wednesday called on the Afghan government to help them recover millions of dollars they have invested in forex trading over the past few years.
This comes days after they staged a protest in front of Albashir Exchange & MSP, a local forex trading firm in Kabul, to ask for the return of the financial assets they have invested in the forex trading market with the help of the Afghan company.
They claimed that forex trading businesses have been given liscence by the state-owned Central Bank.
“If the government has a problem with a person named Hajji Bashir, we want our money back. People should be supported to recuperate their money whether it is a 100 dollars or a million,” said Shafi Samim, a forex trader.
Meanwhile, the outgoing governor of Central Bank blamed the public of entering into such businesses, saying he is unaware of the business in the country.
“They have taken guarantee from each forex trader and they committed to be responsible whether they win or lose. They have gambled. We are Muslims. Why should we do gambling?" he asked.
The protestors last week said their accounts have been blocked over the past few days.
They said that the Albashir company was doing business on their money and that now the officials of the firm are not available to address their concerns and determine the fate of their millions of dollars investments.
Statistics by Kabul-based Money Exchangers Union indicate that the foreign exchange, or forex, trading has inflicted "hundreds of millions of dollars" of loss to Afghans who have invested in the business since it was initially brought to Afghanistan in 2005.
The statistics show that “billions of dollars” have been taken out of Afghanistan under the pretext of forex trading during this period.
Statistics indicate that over 7,000 people have been associated with the business in Kandahar over the past 14 years and most of them suffered heavy financial losses.