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China rejects dollar transactions have been halted with Afghan banks

in Afghan Business

0570B71D-29EA-4D9D-97CE-BB4A908EEBA4_mw1024_s_nThe embassy of People’s Republic of China in Afghanistan on Tuesday rejected reports that the Chinese banks have halted transactions with most Afghan commercial banks.

Chen Shijie, Counsellor in Chinese Embassy in Afghanistan said, “The media report which claimed that the Chinese banks have halted dollar transactions with most Afghan commercial banks recently, is utterly groundless.”

Shije, quoted in a statement by the ministry of foreign affairs of Afghanistan said, “The Banks of China and Afghanistan have normal business ties. China attaches great importance to developing its relationship with Afghanistan and is willing, as always, to work together with the Afghan side to promote the bilateral cooperation all fields.”

This comes as Central Bank officials expressed concerns regarding the issues the Afghan businessmen face as Chinese banks have halted dollar transactions with most Afghan commercial banks.

Central Bank governor Noorullah Delawari said last month that the banks in China have told they can not handle the bank transfers in Afghanistan.

Chinese banks cited government’s failure to pass laws meeting global standards against money laundering and terrorism financing, behind their decision to halt dollar transaction with Afghan banks.

Delawari said Chinese move was part of a trend that was making it increasingly difficult for the banks to execute international transactions.

“Some of our banks cannot do any direct transactions” because their correspondent banks in the United States, Europe, Germany or Turkey had halted dealings,” Delawari quoted by Reuters said.

Delawari had confirmed that the transfer of money to China to import goods in Afghanistan has been affected.

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