KABUL (SW) – Traders say they continue to face an array of problems in transactions of funds from and to abroad.
More than nine months have passed since the major political change in the country that led to the re-establishment of the Islamic Emirate. This development dealt a severe blow to various parts of the country, whose negative effects on the economic sector remain.
The banking system has not yet been restored to full and monetary services have not returned to normal. A number of traders say that they are facing difficulties in the process of transferring money abroad and are forced to transfer their money for commercial transactions through exchange offices with exorbitant commissions.
Abdul Nasir Rashtia, executive director of the Afghan Steelworks Association, told Salam Watandar that until the political problems with the outer world are resolved, the problem in the investment process in the country will not be solved.
“Money transfers used to be cheaper through banks,” he added. “For example, it used to cost about $ 100 to transfer $ 100,000 abroad, but now it costs up to $ 4,000 through exchange offices.”
On the other hand, Khane Jan Alokozai, a member of the board of directors of the Afghanistan Chamber of Commerce and Industry, also says that the problem of the investment process in the country is influenced by politics.
“The situation is that the banking system is not good, there is no money transfer,” he added. “The political situation has also been affected, and in addition to these market problems, there is no proper market for products.”
However, the officials of the Central Bank of Afghanistan say that based on the decision of the leadership of this institution, the problems of transferring money to investors have been solved and this process is going on normally in the banks.
Saber Momand, a spokesman for the Central Bank of Afghanistan, told Salamatutdar: “This process is not a problem and is proceeding normally.”
Afghanistan is imported and not self-sufficient in many sectors of the economy, and a number of domestically produced goods and products need to be sourced from abroad.
ENDS
