More

    Afghanistan’s Salaried Citizens Allowed To Withdraw Their Salaries

    CountriesAfghanistanAfghanistan's Salaried Citizens Allowed To Withdraw Their Salaries
    - Advertisment -

    Afghanistan’s Salaried Citizens Allowed To Withdraw Their Salaries

    Afghanistan’s central bank, Da Afghanistan Bank, on Thursday lifted restrictions on salaried people withdrawing their salaries.

    The central bank had imposed restrictions in the face of stiff economic conditions in the country after the Taliban took over government in August 2021.

    Salary-earning individuals were allowed to only withdraw only 30,000 Afs per week from their savings in banks, according to the orders of the country’s central bank.

    A Central Bank spokesperson said that the decision to lift the restrictions on withdrawing funds from bank accounts was based on strategic considerations.

    - Advertisement -

    “Da Afghanistan Bank, based on strategic planning for the banking and financial sector and considering resources, canceled the existing restrictions on the salaries of government and non-government employees, and therefore all banks must pay out the entire salaries of government and non-government employees based on their demands without any delay,” the spokesman said.

    The fall of the former government has come with severe challenges to the country’s banking system.

    The decision has led to a spurt in the withdrawals and communication late evening suggested that banks were not able to keep up with the demand.

    “People wish to withdraw money because there is uncertainty,” a staff of a humanitarian agency told OWSA. “Common people also need the money for day-to-day expenses, especially with Eid arriving in another couple of weeks.”

    Interestingly, Thursday’s move to allow people to withdraw their money from the banks also coincided with a publicity campaign the central bank undertook to convey to people about the safety of their money in their own bank accounts.

    Business unhappy

    The move was not unexpected. An aid package of US$ 570 million had arrived a week earlier from the World Bank. Afghan officials had then expressed their optimism that the aid would help circulation of money in the markets.

    The current Taliban-led Afghan government is not recognised by most governments across the world, with the UN system remaining the most important link for aid – humanitarian assistance and funding, alike.

    However, the central bank’s decision to allow only salaried people to withdraw their money has caused resentment among businessmen. There are still limits on businessmen withdrawing of money from their bank accounts, especially because business cannot invest money on exports and imports.

     

    Image: Grab from Da Afghanistan Bank promotion video 

    - Advertisement -

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    Latest news

    Sri Lanka’s Elephant Corridor Plan ‘Unscientific’

    Nearly 5,000 elephants and 1,600 people have been killed in the last 15 years in clashes between elephants and humans in Sri Lanka, home to one of the largest remaining populations of Asian elephants, according to official figures.

    New Projections Show Extreme Glacier Loss Already at 2°C

    Staying close to 1.5°C on the other hand preserves at least some glacier ice in all regions, even Scandinavia, with 20-30 per cent remaining in the four most sensitive regions; and 40-45 per cent in the Himalayas and Caucuses; stressing the growing urgency of the 1.5°C temperature goal and rapid decarbonization to achieve it.

    Government Extends Interest Relief for Farmers, Reinforces KCC and MISS as Pillars of Agricultural Credit

    Through the KCC framework, farmers benefit from revolving credit facilities for up to five years. This flexible structure allows them to draw and repay funds as per their seasonal requirements without having to reapply for loans each season.

    Legal Battle Brews Over Rampant Illegal Sand Mining in Meghna River

    The massive profits coupled with a weak legal framework have drawn influential individuals with political connections into the sand mining business, making it dangerous for environmental activists and journalists to speak out.
    - Advertisement -

    Yunus Warns of ‘War-Like Situation’ Amid Political Crisis and Rising Tensions

    The high-stakes meeting brought together 20 leaders from various political parties and organisations in two separate sessions, as Yunus sought to shore up support amid reports of internal tensions within his interim government and growing external pressure.

    Vice President Calls for Direct Subsidies and Agri-Entrepreneurship at Madhya Pradesh Conclave

    He urged agro-based industries, NGOs, MPs, and MLAs to adopt villages and help build agri-entrepreneurial ecosystems.

    Must read

    Sri Lanka’s Elephant Corridor Plan ‘Unscientific’

    Nearly 5,000 elephants and 1,600 people have been killed in the last 15 years in clashes between elephants and humans in Sri Lanka, home to one of the largest remaining populations of Asian elephants, according to official figures.

    New Projections Show Extreme Glacier Loss Already at 2°C

    Staying close to 1.5°C on the other hand preserves at least some glacier ice in all regions, even Scandinavia, with 20-30 per cent remaining in the four most sensitive regions; and 40-45 per cent in the Himalayas and Caucuses; stressing the growing urgency of the 1.5°C temperature goal and rapid decarbonization to achieve it.
    - Advertisement -

    More from the sectionRELATED
    Recommended to you