KABUL (SW) – The roadside forex traders around the main ‘Sarai Shahzada’ currency exchange market in Kabul have been directed by the Afghanistan Central Bank/Da Afghanistan Bank (DAB), to get registered.
A number of such traders told Salam Watandar they have been asked to get letter of guarantees via regular traders and get registered with the DAB.
Currency exchange dealers are facing significant challenges following a recent decision by the Afghanistan Central Bank. According to the dealers, no exchange bureau is willing to offer them the necessary guarantees, leading to substantial disruptions in their business operations.
Mohammad, one of these dealers, says, “The main issue is that we are being sidelined because we lack licenses. The Central Bank has stated that a licensed dealer can guarantee three to four roadside dealers, but we don’t have such connections with licensed dealers, which is why we are being excluded from doing business.”
The roadside forex dealers operating without licenses in Sarai Shahzada, are calling on the Central Bank of Afghanistan to allow them to continue their activities.
Abdul Hamid, adds, “We urge the Central Bank officials to show compassion and allow people to continue their businesses so that they can earn a legitimate living and support their families.”
Meanwhile, the officials of the Sarai Shahzada Currency Dealers’ Union in Kabul also ask the Central Bank to reconsider its decision.
Abdul Rahman Zerak, spokesperson for the union, says, “We appeal to the Central Bank to allow dealers to return to work. Each of them is the head of a family and supports their households through this work.”
Hasibullah Noori, spokesperson for the Central Bank of Afghanistan, however, tells Salam Watandar that a new law on currency services and trading has recently been enacted by the leader of the Islamic Emirate. “According to this law, roadside dealers must obtain licenses to continue their activities.”
According to Central Bank statistics, more than 1,000 currency dealers and 600 exchange agencies have been issued licenses for operation.
