KHOST (SW) – Hundreds of currency traders in Khost province have closed down their business in protest against the regulatory moves by the Da Afghanistan Bank.
The traders told Salam Watandar the central bank has urged them to share details about the daily transactions and deposits. They acknowledge this is a legitimate demand by the central bank, but they cannot cooperate owing to matters of confidentiality and security of the customers who fear abduction in case their assets are made public.
Shahzad Khan, head of the currency traders’ association, told Salam Watandar the current rules and regulations allow them to keep the deposits and engage in ‘hawala’ system of money transfer. He added the protest drive would continue until the DAB relaxes the regulations.
This impasse has left hundreds of Khost residents in limbo. These people told SW they have been waiting for days to receive or sent money.
There are reports the DAB imposed these tough regulations over fears about the militants using these currency traders to move funds. The DAB officials declined to comment on the matter.
Meanwhile, the provincial administration clarified a meeting between the traders and the DAB officials has been called to resolve the issue.
Many Khost residents are working in the Gulf countries, and they send remittances back to their families generally through the ‘hawala system’.
ENDS
