DAB suspends operations of money changers in five provinces

Da Afghanistan Bank (DAB) said Wednesday activities of unlicensed money changers in Herat, Khost, Helmand, Ghazni and Kandahar provinces have been suspended.

This includes money changers who have not obtained trading licenses and money changers who have not extended their licenses.

DAB spokesperson Hasibullah Noori said the institution wants to provide financial services through companies.

The money changers, however, said they support the monetary policy of the central bank, adding that they should be given a license to operate and facilities should be provided for them in the distribution of the license.

Meanwhile, economic experts stated that money changers should be regulated.

“The only way that you can prevent the smuggling of dollars out of Afghanistan and prevent money laundering to a large extent is setting up a system for money changers,” said Shabir Ahmad Bashiri, an economist.

DAB officials stated only money changers who are licensed to operate will be allowed to conduct business.

DAB has already distributed permits to more than 1,000 money changers across the country – all of whom work through companies.