Thursday, May 30, 2024

Afghanistan Central Bank declares online currency exchange ‘prohibited’

Immigration News

Fidel Rahmati
Fidel Rahmati
Fidai Rahmati is the editor and content writer for Khaama Press. You may follow him at Twitter @FidelRahmati

The central bank under Taliban control has announced that it has not issued any licenses for online currency exchange activities to any individual or company, and their activities are illegal.

In an announcement, the bank has urged the public and companies to refrain from dealing with online currency exchanges.

According to the statement, the prohibition of online currency exchanges has been put in place under the Taliban’s supervisory and security administration.

The central bank, under Taliban control, has stated that in the event of the arrest of individuals and companies engaging in online transactions, it will take “legal action.”

The bank’s announcement states: “We urge citizens to refrain from engaging in online currency exchange activities considering the risks, damages, and subsequent liabilities of these transactions.”

Earlier, the central bank under Taliban control had declared online trade with foreign currencies in Afghanistan illegal.

Since the Taliban assumed control of Afghanistan, there has been a noticeable shift towards online and digital transactions. However, this transition has also led to an increase in the risks of fraud and deceit. Consequently, the Taliban has declared such activities illegal and advises people to refrain from engaging in them.

With the Taliban regaining control of Afghanistan and increasing economic instability, many people have turned to online trade and storing digital currencies.

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