• publish: 11 March 2018
  • time: 3:58 pm
  • category: Social
  • No: 6004

Afghan central bank issued licenses to 2 Forex Companies ‘for the first time’

The state-owned Central Bank of Afghanistan has for the first time issued licenses to two foreign exchange companies that the bank has not been able to control the use of foreign currencies on the local market. 

At a conference in Kabul the head of the central bank’s licensing department, Abdul Waheed,

said that the use of Pakistani and Iranian currencies on local markets is concerning and

the bank is not able to overcome this problem alone.

Waheed said the bank does not know the exact number of foreign exchange businesses in the country but to date more than 1,800 of them have registered with the bank.

“The total number of money exchangers (they know about) in the country is 1,810. Of this, 1,090 companies have registered (with the bank),” he said.

According to the Central Bank, the two new licensed business will not be able to offer savings accounts to its clients or to give them loans. Instead they will be able to exchange foreign currency and offer money transfer services.

However the owners of these companies said they have plans to expand operations to towns and cities around the country.


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