National Council of Moneychangers goes on strike

Business & Economics

National Council of Moneychangers goes on strike

KABUL (Pajhwok): Afghanistan’s National Council of Moneychangers has announced going on strike against problems in obtaining licences.

A resolution passed by the council said moneychangers across the country had frequently tried to resolve the licence issue and submitted petitions to the authorities concerned but their problem was yet to be addressed.

The resolution reads: “Under a new plan and current circumstances, obtaining a licence is very difficult for moneychangers.”

It added: “Moneychangers deal in domestic and foreign remittances besides transferring money and supplies for traders.

“But unfortunately, the new law brought from the West and imposed on moneychangers by the previous government had made their work difficult.”

It also said the conditions were not acceptable to moneychangers, who were unable to qualify for running the business. They have shared the issue with the economic commission.

The national moneychangers’ council said all the moneychangers would suspend their activities until their problems were addressed.

The council hoped a solution to the problems of moneychangers would be consulted with them.

Ahmad Shah, a moneychanger in Sara-i-Shahzada, the country’s largest currency market, told Pajhwok Afghan News the union decided on Saturday evening to halt activities from today (Sunday).

According to him, based on the government decision, the fee for a licence has been fixed at five million afghanis. A moneychanger must have 50 million afs in cash.

He added these conditions had made the situation difficult for moneychangers.

Mohammad Nasim Lufraee, director of the moneychangers’ union in Faryab, said they supported the decision of the union and would suspend their activities from today (Sunday).

He said a majority of moneychangers could not arrange five million afghanis in bank guarantee. Several moneychangers would not be able to operate unless the central bank and the government reconsider the bank guarantee condition.

Pajhwok repeatedly tried to get comments from Da Afghanistan Bank and government officials, but failed.


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