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DAB Decision Will Pose More Complexity in Money Market: Moneychangers

KABUL (BNA) Lately Da Bank of Afghanistan determined its position against accepting “US dollar” banknotes in a statement.

Banknotes beforehand 1996, torn, scraped, lost their shape or splattered by the sloppiness of the veneer, and the banknotes their security mark had removed are unacceptable by the bank, said in a statement.

The announcement sparked a backlash in Moneychangers’ Union, the country’s largest currency exchange market, which says central bank officials need to find a fundamental solution to the old, diminished dollar.

The declaration by the Bank has shocked people said Abdul Rahman Zirak, spokesman for Sarai Shahzada Moneychangers’ market Union, to Bakhtar News Agency, “at the same time the bank should have announced a solution for such dollars,” he added.

He said what should people do with their dollars beforehand 1996 with the stated provisions that are in the possession of the people what Central Bank has declared is unfit?

Da Afghanistan Bank should collect such banknotes or direct them to private banks to collect them. Or money changers should be given the task of collecting dollars with the mentioned specifications, but unfortunately, no reference has been proven that all these dollars are collected and transferred to it, added Abdul Rahman Zirak.

Another member of the moneychanger Union Ameen Jan Khosti who believes that such dollars with the mentioned specifications are now available in the markets, at money changers’ offices, people, and even in banks’ reserves, said if no alternative is offered made by the Da Afghanistan Bank there will be more Complexity.

We wanted to have the opinion of Da Afghanistan Bank officials on the matter, but regrettably, due to repeated calls, we could not include their views in this report.

 

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