Advertisement

Updated September 20th, 2021 at 08:20 IST

Da Afghanistan Bank to allow private firms to withdraw $25,000 per month

Da Afghanistan Bank states that foreign currency agents might offer private firms USD 25,000 or its Afghani equivalent amount once every four weeks.

Reported by: Anwesha Majumdar
Afghanistan
Image: ANI/ AP_Representative Image | Image:self
Advertisement

The Da Afghanistan Bank (DAB), which is the central bank of Afghanistan, announced on Sunday that all private sector companies would be permitted to withdraw an amount of 25,000 USD from their bank account once per month, given the deteriorating economic circumstances of the nation following the Taliban seizure. According to a statement obtained by Pajhwok Afghan News from the DAB, all private firms would be able to withdraw the sum of money starting today, September 20. 

The statement from DAB states that foreign currency agents might offer private firms USD 25,000 or its Afghani equivalent amount once every four weeks. This arises after the Taliban gained control of the war-torn nation one month ago and halted banking institutions. Yet, a few days later, banks were only permitted to withdraw USD 200 or 20,000 Afghanis from bank accounts once a week.   

Afghan citizens and traders have faced significant difficulties as a result of bank closures as well as restricted activity. As per a report by Pajhwok, 1.2 million private-sector employees are still to be given their wages because of bank constraints. Several citizens claimed that they are having financial difficulties since government departments have mostly stayed closed and their paychecks are yet to be paid, Tolo News reported. 

Freezing of funds for Afghanistan

While The New York Post reported that foreign aid was instantly halted during the Taliban's takeover of Kabul on August 15. The US also withheld USD 9.4 billion in reserves for the nation's central bank. In addition, the International Monetary Fund (IMF), as well as the World Bank, have suspended lending, and the Financial Action Task Force has issued a warning to its 39 member countries to freeze Taliban assets. According to ANI, hundreds of Afghan civilians have been observed waiting in lengthy queues to withdraw their money. Afghans are concerned about the reports that the US government has frozen Afghanistan's bank assets and that foreign agencies have declared a funding freeze. 

On the other hand, previously on September 12, Sunday, Da Afghanistan Bank (DAB) stated that it did not receive any formal information on the freeze of its assets. After customers waited in long lines to withdraw their funds, the bank published a clarification about the money in the bank. The Afghanistan Bank stated that it learned of the freeze of monetary reserves via media reports, but that no formal notice had been received. Whereas, The United States was the first nation to remove the Taliban's financial access.  

(Image: ANI/ AP_Representative Image)

Advertisement

Published September 20th, 2021 at 08:20 IST

Your Voice. Now Direct.

Send us your views, we’ll publish them. This section is moderated.

Advertisement
Advertisement

Trending Quicks

Advertisement
Advertisement
Advertisement
Whatsapp logo