Moneychangers want company license renewal to stay optional

KABUL (Pajhwok): Moneychangers on Saturday during a protest asked the government to leave as optional renewal of their companies’ license, saying they were ready to renew individual licenses.

Members of the Afghanistan Grand Moneychangers Council (AGMC) held the protest in Kabul after Da Afghanistan Bank (DAB) announced that company license renewal was must for them.

Mir Afghan Safi, AGMC head, said they wanted individual license to be renewed after every three years but company license should be optional.

He warned if their demand was not met, they would expand their protest to other parts of the country.

Earlier, DAB had announced distributing licenses to all money exchange companies until 2023, asking the money exchangers that every company should have five educated workers with one holding bachelor’s degree in economics.

According to Safi, one billion afghanis circulated through moneychangers daily and if they stopped their activities, their business would suffer and a massive amount of money would be stopped from circulation.

nh/ma