English | دری

Money laundering on the rise in Afghanistan

in Afghan Business

Money laundering on the rise in Afghanistan

US dollarThe Afghan Central Bank, Da Afghanistan Bank (DAB), have expressed concerns about the increasing money laundering activities that are posing threats to the financial system of the county.

The officials said that large amounts of money have been smuggled through Kabul International Airport. Despite the steps that have been taken to prevent laundering operations, certain groups manage to successfully smuggle large amounts of cash out of the country through loopholes in the Afghan financial system.

Meanwhile, a number of economic pundits accuse the government of failing to prevent cash smuggling.

“About USD 18bn was laundered from Afghanistan in 2011, according to the figures I have in hand,” said Azrakhsh Hafizi, an economic expert.

The Central Bank has undertaken a new strategy of allowing an individual to transfer only USD 20,000 abroad at a time in an attempt to reduce illegal money transfers leaving Afghanistan.



Related Articles

Afghanistan becoming self-reliant in honey production

Afghanistan had an unprecedented production of honey in 2015, with producing nearly 2 million kilograms of honey. According to the

India pledges $1mn to the Afghan Red Crescent Society

India has committed to provide annual financial assistance of US$ 1 million over a period of five years beginning 2015-16

Several Public Service Contracts signed in Herat

Deputy Minister of Rural Development and Rehabilitation signed the contracts of several public service projects in Herat on Monday, according

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Your e-mail address will not be published.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.