Taliban announces prohibition of foreign currency use in Afghanistan

10:04, 03 November 2021
Taliban announces prohibition of foreign currency use in Afghanistan

The Taliban* announced on Tuesday that all foreign currency operations in Afghanistan will be banned.

"The economic situation and national interests in the country require that all Afghans use Afghan currency in their every trade," the Taliban spokesman said in a statement.

In addition, The Taliban government planned to release billions of dollars of central bank reserves to confront cash crunch, mass starvation, and a new migration crisis.

The big amount of Aghanistan public funds had been kept in the US and European banks while all these assets have been frozen.

On October 29 Taliban addressed the US to receive Afghanistan’s funds which were parked overseas following the movement’s capture of power.

"The money belongs to the Afghan nation. Just give us our own money. Freezing this money is unethical and is against all international laws and values," The spokesman for the ministry Ahmad Wali Haqmal said.

The Afghanistan banks reported, that they faced problems with cash funds as they might halt the work of the bank branches in the country soon. It’s unclear how long the bank system will be working.

The Central Bank of Afghanistan has already demanded all banks in the country to set a temporarily weekly withdrawal limit within a maximum of $200.

The UN officials said Afghanistan requires as much as $220 million per month to avoid the hunger crisis, while the current humanitarian help is a “drop in the ocean”.

The European and American sides are reportedly ready to help if the Taliban starts to protect human rights and fights against terrorism.    

*Taliban is a terror organization banned in the US, Russia, and many other countries.