Forex traders ‘forced’ to resume operations

KABUL (SW) – Following the cessation of operations by the forex traders in protest, sources told Salam Watandar that the forces of the Islamic Emirate had reopened the gates of the currency market in Kabul by force.

Abdul Rahman Zirak, spokesman for the Prince of Sarai Shahzada Money Changers Association, confirmed to Salam Watandar that the facility had been opened this morning (Sunday, the 15th of May) by the forces of the Islamic Emirate by force. He added that although the gate is open, the shops are closed and the money changers are not present.

Meanwhile, sources report a rise in the value of the dollar against the afghani. A number of money changers say that today one dollar is exchanged for 90 afghanis; whereas yesterday this figure was around 89 afghanis.

A spokesman for the Sarai Shahzada Money Changers’ Association also acknowledged the rise in the value of dollar against the afghani.

The National Union of Money Changers and Monetary Services of Afghanistan announced yesterday that all money changers in the country have closed their shops and stopped their activities due to problems in obtaining a license from the Islamic Emirate.

The resolution issued by the union stated that despite many efforts, the problems in the licensing process have not been resolved and that it has become almost impossible to obtain a license based on a plan issued by the Islamic Emirate.

The central bank, Da Afghanistan Bank recently set nine conditions for obtaining licenses for monetary and exchange services companies. Under these conditions, in large cities such as Kabul, Herat, Kandahar and Balkh, the applicant must have at least 50 million afghanis in funding.

According to the bank, the licenses of these companies must be renewed every three years.

ENDS

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