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Banking restrictions must go, demand traders

Banking restrictions must go, demand traders

author avatar
22 Mar 2022 - 15:20
Banking restrictions must go, demand traders
author avatar
22 Mar 2022 - 15:20

KABUL (Pajhwok): A number of traders have complained about banking restrictions, seeking the immediate removal of the curbs.

On the other hand, central bank officials insist no additional restrictions have been imposed on banks.

After last year’s political change, restrictions were imposed on public and private banks, causing problems for people, particularly traders.

Based on the curns, ordinary people could not withdraw more than 30,000 afghanis a week. Similarly, traders cannot withdraw more than five percent of their total deposits.

Mohammad Mirwais Hajizada, a vegetable trader, told Pajhwok Afghan News that the money they received from bank accounts was not enough to meet their business needs.

“Previously, there were no problems in withdrawing money. But now, there are many problems. Despite having money in banks, we are indebted to farmers.  We cannot export products easily,” he complained.

Sardar Sabzwari, a food trader, said there had been no problems in withdrawing money in the past, but after the new government’s takeover, they had been faced with restrictions.

“Our problem is that banks do not give us enough money. We can get only five percent of our capital, which does not address our business needs,” he remarked.

He also claimed there were problems in transferring money from one bank to another. The government should move swiftly to resolve the issue, he demanded.

“We want banks to deal with businesspeople the way they did in the past, because the restrictions have sent prices soaring,” he argued.

A number of other traders held similar views, asking the government to remove the banking restrictions so that their businesses functioned normally.

Mohammad Saber Momand, spokesman for the central bank, said they had implemented various bills and procedures to provide better services for the people.

Based on these bills and procedures, companies can withdraw five percent of their deposits from banks, not exceeding $25,000, he pointed out.

“To further facilitate activities of commercial companies, domestic transfers and the banking system are not subject to any restrictions if they produce the required documents,” he added.

Momand rejected the idea that the hike in prices of essential items and commercial goods had resulted from banking restrictions.

mds/mud

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