Can’t fulfill DAB new conditions: Kandahar money changers

KANDAHAR (Pajhwok):  Money changers in southern Kandahar province say even five percent of them could not meet the new conditions of Da Afghanistan Bank (central bank).

The central bank has asked money changers to obtain new work permits and deposit three million afghanis as a guarantee with the bank and should have 30 million afghanis for doing business.

According to the new conditions, all money changers should obtain license and become familiar with the software that would be later provided to them.

However, the Kandahar money changers union said even five percent of them could not meet the new conditions.

Haji Qand Agha, head of the money changers’ union, told Pajhwok that most of the money changers were illiterate and faced problems like lack of electricity and internet. “But the central bank wants us to work and operate at the world level, which is not possible.”

He suggested three types of licenses for money changers. The first should be given to those having 30 million capital and representatives in all of Afghanistan. The second type license should be given to those having 1.5 million afghanis capital and the third for money changers with capital of 0.5 million afghanis who only exchange currencies.

Other money changers also said they had shared the issue with the central government and officials many times, but failed to elicit a positive response.

Money changer Nisar Ahmad said there were hundreds of money changers in Kandahar, but only a handful could meet the new conditions.

He said 450 money changers worked in Kandahar and only 30 of them might be able to fulfill the conditions and the rest could not.

All businesses in Afghanistan have been affected and relations with the world and money transfer have become difficult so  imposing such harsh conditions on money changers was not justifiable, said another money changer Sardar Mohammad.

He believed if the money changers were forced to obtain these licenses, most of them would quit their business and it would further negatively impact the country’s economic situation.

“The Americans have frozen our money and we do not have good business relations and money transfers with the world, so if the central bank imposes these harsh conditions, it will further affect the country’s economy.”

The number of money changers in Kandahar whose capital is half a million afghanis to one million afghanis is more than others and they only exchange currencies.

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