Online forex transactions illegal, says central bank

KABUL (Pajhwok): The central bank says it has allowed no one to conduct online foreign exchange (forex) transactions.

The statement from Da Afghanistan Bank (DAB) comes at a time when some people are illegally doing forex business in the country.

Forex market is a global decentralised or over-the-counter market for trading of currencies.

DAB made clear it had not yet licenced any individual or company to carry out online forex transactions. The bank called such activities unlawful.

“Transactions with these individuals and companies are risky and cause financial losses to the citizens. We urge the people to avoid dealing with such individuals and firms,” the statement added.

DAB said it was striving to identify the individuals and companies involved in such illicit activities and bring them to justice.

sa/mud