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CEO vows to address moneychangers’ issues

CEO vows to address moneychangers’ issues

Aug 24, 2017 - 16:59

KABULinfo-icon (Pajhwok): Moneychangers on Thursday urged Chief Executive Officer (CEO) Abdullah to give them more time to submit old banknotes to the central bank.

Earlier, Da Afghanistaninfo-icon Bank (DAB) had announced that banknotes that were stuck back together with sticky tape or glue, painted with colors or stamped or their colors changed would be invalidated with the beginning of the new solar yearinfo-icon, 1396 (March 22).

However, DAB later extended the deadline for another four months till August 22.

DAB deputy head Mohammad Qasim Rahimi had told a press conference that around 500 branches of the government and private banks had been tasked countrywide with collecting old banknotes from people.

The process of exchanging the bills was underway and so far 25 million worth old banknotes had been collected since February 1, he had said.

In a statement from the CEO office said members of the Kabul Moneychangers Union (KMCU) handed over their suggestions regarding the law on banknotes services, administrative corruption, embezzlement, fraud and highlighted problems surfaced after the end of the expiry date for changing old banknotes.

The asked the CEO to address their concerns in different areas such as loan, money transfer, the nature of investigation, legal issues and old banknotes.

They said the announcement of the invalidity date of old bank notes had created huge problems in the market and for more time was needed to resolve the issue.

The CEO hailed moneychangers for doing business in a tough security environmentinfo-icon and pledged to convey their concerns to the Ministry of Commerce and Industries, the Attorney General Office and DAB.

The CEO also stressed security and safety of moneychangers.


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