English | دری

Financial Transactions to be done in local currency- Afghanistan Central Bank

in Afghan Business

Financial Transactions to be done in local currency- Afghanistan Central Bank

As part of the measures taken to stabilize afghani currency, the Central Bank of Afghanistan announced that all financial transaction would be done in the local currency.

Private-sector financial institutions urged private-sector financial institutions to refrain from investment outside of Afghanistan and rather invest more locally in order to meet the domestic needs.

“There are great opportunities in Afghanistan for local investment. Why are the private banks investing abroad,” said Central Bank governor Noorullah Delawari.

Ministry of Hajj would also be required to make payments in local currency.

Dollar-based payments have resulted in weakening of the afghani. He called the current rise in dollar’s value, driven by the Hajj season, as a transitory phenomenon.

According to Mr. Delwari, 17% of investment by 17 private banks was outside of the country.



Related Articles

Food products prices escalating in Kabul as Eid is approaching

Kabul residents have complained about the prices of commodities rising two-fold as Eid days are approaching. “Two days are left

Farah revenue up by 65% in the current solar year

The revenue department of Farah has recorded a total revenue of 4.62bn AFN, showing a 65% increase over last year.

Exhibition for Afghan women products kicks off in Kabul

The Afghan Women Chamber of Commerce and Industry (AWCCI) with support from USAID-Promote has organized a two-day exhibition showcasing industrial

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*

Time limit is exhausted. Please reload the CAPTCHA.