Afghan central bank revokes individual licenses for money exchange services
Da Afghanistan Bank (DAB) has announced new regulations which aim to improve the management, transparency, and supervision of non-banking financial organizations, specifically money exchange and monetary services.
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DAB revoked all individual licenses and provided company licenses to 876 money exchange services last year to standardize and increase transparency in their activities.
Da Afghanistan Bank issued corporate licenses to 876 money changers and money service providers last year, according to a statement by the bank.
The regulations include non-banking financial institutions that include money changers, money service providers, electronic money, payment, and small loan institutions. (ILKHA)
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