Business sector: Money transfer challenges persist



Afghan traders claim that they are still encountering challenges with international money transfers, which are affecting exports and imports.

A number of Afghan traders urged the international community to focus on the issue and take step to remove the challenges. “We ask the international community, international and local banks to cooperate with Afghan traders, the people who create employment for a country,” said Mahbobullah Mohammadi, a businessman.

At the same time, the Chamber of Industries and Mines told TOLOnews that purchasing raw materials and necessary machinery also faces delays due to the challenges of transferring money outside the country.

“A part of the problem was solved, but still problems exist in transferring money. We face problems while importing raw materials to Afghanistan,” Said Sakhi Ahmad Paiman, deputy head of the Chamber.0 The Afghan Chamber of Commerce and Industries said many Afghan businessmen transfer money through money exchange markets with high taxes which is affecting the price of imported items in the country.

Meanwhile, the Central Bank of Afghanistan said the system of transferring money is normal way and no problems exist now.

“Based on the previous statement by the Central Bank, the restrictions have been removed, and the process is normalized, so Afghan businessmen can transfer their money abroad,” said Saber Momand, spokesman for Central Bank of Afghanistan. The banking system has faced challenges with the collapse of the former government in Afghanistan.

Since the country is importing almost all necessary goods from abroad, money transfers are essential for food and other items.—Tolo News


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