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DAB revoked the license of Individual money exchangers

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Kabul: The Central Bank of Afghanistan announced that it has canceled the license of individual money exchanges in order to ensure transparency, optimal regulation and supervision of non-banking financial institutions.

In the announcement of Central Bank of Afghanistan, it is stated that in the past year, about 876 exchanges and money service companies have received company licenses, and in return standardized and transparent facilities have been provided for them.

Last year, the central bank had determined nine conditions for obtaining the license of money service companies and exchanges, according to which in the cities such as Kabul, Herat, Kandahar and Balkh, the applicants should have at least 50 million Afghanis to obtain the license.

The central bank of Afghanistan had earlier announced 200,000 AFN fee for renewing the license of money services and exchange companies for three years.

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