Closure of Banks & Kabul’s Financial Market, Sarai Shahzada, Will Lead to Serious Economic Crisis

Nearly two weeks have passed since the closure of the banks and Sarai Shahzada, Kabul’s larget financial market, but so far there is no news of the reopening of these places.

According to economists, this will increase the economic problems in the country and create an economic crisis.

With the banks and Sarai Shahzada closed, Kabul residents have complained about the situation, saying that all their transactions depend on these institutions and that the problem should be addressed as soon as possible.

Saifullah Seyhoun, a university professor and economist, told Pajhwok that the closure of these financial institutions has caused serious problems for the people, as people are running out of cash.

Seyhoun added that money drives economic activities, and when money falls out of circulation, these activities stagnate and an economic crisis arises. A possible hyperinflation is also predicted.

Professor Seyhoun calls on the Islamic Emirates of Afghanistan to establish a government acceptable to the world as soon as possible in order to pave the way for more economic activities in the country.

Meanwhile, Haji Dadgol Hazratozi, deputy head of the Union of Money Exchangers of the country, says that the market is still closed due to security problems. The security-in charge staff of Sarai Shahzada are working in agreement with the Taliban to help reopen the market.

Hazratozi calls on the current system to ensure the security of the banks and Sarai Shahzada as soon as possible.

Residents have reported about shortage of cash and not being able to buy food. The prices of commodities have skyrocketed.