September 03, 2014

Over $3 billion illegally transferred outside Afghanistan

By Sajad - Tue Nov 20 2012, 9:20 pm

Afgahn Central Bank officials announced more than $3 billion have illegally been transferred outside the country through the banks operating in Afghanistan.

Noorullah Delawari Afghan Central Bank chief said a number of documents provided by the local banks which are reflecting the transfer of money outside the country are not correct.

He said majority of the money has been transferred to China, Korea and some other nations.

Mr. Delawari also said around $4.6 billion was transferred outside Afghanistan from Kabul International Airport six months ago.

This comes as Afghan Central Bank earlier implemented a new law which prevents an individual to transfer more than $20,000 outside the country.

The Afghanistan Bank is the central bank of Afghanistan. It regulates all the banking and money handling operations in Afghanistan.

In the meantime widespread corruption is believed to behind the billions of dollars suspected to have been taken out illegally by top officials and the mafia. The year before the money smuggled was estimated at 4.6 billion USD.

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