Money-changers want solution to old USD banknotes

KABUL (Pajhwok): Moneychangers in capital Kabul reacted to the decision of Da Afghanistan Bank (DAB) regarding the old US dollar banknotes and asked for an alternative solution, saying the move can affect people and traders.

DAB in a statement on May 7 said that US dollar banknotes with the following specifications would not be acceptable for deals.

The bank said the banknotes printed in 1996, torn, taped, burned, inked or their security signs removed would be unacceptable.

DAB said that other dollar banknotes printed after 1996 and without the problems mentioned above were acceptable for deals.

However, the decision has concerned money changers.

Abdul Rahman Zirak, a spokesman for Sara-i-Shahzada Money Changers Union, told Pajhwok Afghan News, “We have many problems in buying and selling dollars for a long time, particularly in selling or buying old and torn banknotes.”

However, he said, “Yesterday, DAB issued a statement about dollars for money changers, which includes five issues, but unfortunately the bank did not provide a solution in this regard.”

Zirak said the decision would severely affect some people and money changers who have banknotes with the mentioned issues.

“These dollar banknotes cannot be thrown away with such specifications, there should be a source to collect them, we need to know what the solution is? And what is given in return?” he said.

He continued to say that the moneychangers take worn-out, white-dollar notes, and notes with other issues from people, but banks refused to take these banknotes from moneychangers.

“Most of our people have problems in this regard and they have dollar notes with mentioned issues, they need a solution for that,” he said.

He said that the moneychangers’ union in the past also cooperated on collecting worn-out dollar banknotes and other issues and the central bank should let them collect such notes from around the country and take them abroad for exchange of new ones.

Pajhwok tried to get a response from the central bank, but the bank officials did not respond.

However,businessmen welcomed the central bank’s decision.

Mohammad Younus Momand, head of the Afghanistan Chamber of Commerce and Investment, welcomed DAB’s decision, saying that Afghanistan was moving from a false economy to a real economy and that there was an urgent need to focus on all areas, especially the monetary and financial system that should comply with the international laws.

He said that the decision was made by the central bank based on proposals already made by traders and a number of moneychangers.

“Afghanistan should not be a repository of its neighbors’ old dollar banknotes, and we do not want to have worn-out dollar notes,” he said.

Mukhlis Ahmad, head of Tawsif Limited Company in Kabul, told Pajhwok that DAB’s decision about the exchange of dollars in the country was commendable.

He hoped that the decision will be implemented and not ignored like in the past.

Ahmad said the central bank had many times issued such announcements but had not acted on them.

mds/ma