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KABUL (SW): Today, the 'money changers' across the country were on strike against the new central bank regulation.<\/p>\n
Qazi Mir Afghan, chairman of the Union of All Money Changers (UAMC) in Afghanistan, said the new Central Bank regulation will prevent ‘money changers’ from trading and urged the bank officials to revise its regulation as soon as possible.<\/p>\n
Not issuing permits to new ‘money changers’, prohibiting ‘money changers’ from keeping the money as security, illegalizing ‘giving and receiving loans’, and reporting monetary transactions to the Central Bank, are the new regulations imposed by the Central Bank on the ‘money changers’.<\/p>\n
However, the Central Bank spokesperson, Eimal Ashur said that a number of the activities of ‘money changers’ such as keeping the money as security, giving and receiving loans, and noncompliance with the reporting monetary transactions to the Central Bank are against the banking law.<\/p>\n
The ban on the issuance of new licenses to new ‘money changers’ will only be implemented in the larger cities, however, the permit will be issued to new ‘money changers’ in other provinces, Eimal Ashur added.<\/p>\n
The UAMC warned that if the Central Bank does not meet their demands, they will arrange a large protest. According to officials at UAMC, there are more than 200,000 ‘money changers’ across the country which have created more than 2 million jobs.<\/p>\n
ENDS<\/p>\n
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