DAB Raises Limit on Bank Withdrawals to $600 a Week, but Banks don not comply accordingly: Businessmen
The Banks do not comply based on the recent instructions of the Central Bank or Da Afghanistan Bank; instead follow the previous restrictions on Bank withdrawals, lifting at most $200 or 20,000 Afghanis, said Afghan businessmen. The Chairman of the Afghan Business Council in the United Arab Emirates, Haji Obaidullah Sader Khail, said on Wednesday […]
The post DAB Raises Limit on Bank Withdrawals to $600 a Week, but Banks don not comply accordingly: Businessmen appeared first on Khaama Press.
The Banks do not comply based on the recent instructions of the Central Bank or Da Afghanistan Bank; instead follow the previous restrictions on Bank withdrawals, lifting at most $200 or 20,000 Afghanis, said Afghan businessmen.
The Chairman of the Afghan Business Council in the United Arab Emirates, Haji Obaidullah Sader Khail, said on Wednesday that the banks still do not pay people more than 20,000 Afghanis per week.
Meanwhile, Sader Khail told Khaama Press that transferring money abroad is the main challenge in front of Afghan business people and added that “businessmen who import foodstuff, medicines other important commodities could not pay or transfer money to the foreign companies or factories.”
He added that due to the above challenges, business people are currently transferring their money via Hawala, which entails extra costs in some cases up to 7 to 10 per cent, directly impacting the prices of imported commodities. In contrast, the ordinary people pay the prices.”
He said that the issue of transferring money abroad had been discussed with the interim government, but the problem still needs to be solved for the merchants. He continues by adding that if the problem of transferring money for the sake of business had yet to be resolved, it would affect the price of imported commodities such as foodstuffs, raw materials and medicines.
The remarks came after Afghanistan’s central bank eased restrictions on bank withdrawals, lifting the maximum to $600 denominated accounts or Afghanis equivalent a week from the previous limits of $200.
The post DAB Raises Limit on Bank Withdrawals to $600 a Week, but Banks don not comply accordingly: Businessmen appeared first on Khaama Press.