Business
Central bank sets up telegraphic transfer system for foreign deposits
Da Afghanistan Bank, the country’s central bank, said on Wednesday it has established a telegraphic transfer facility for traders and investors.
Mohammad Saber Momand, a spokesman for Da Afghanistan Bank, said in a video clip on Wednesday that the bank has provided the necessary facilities for traders and investors in order to prevent losses to the general public and for traders who need to make foreign transfers.
“According to this strategy, traders and investors can grow and strengthen their business … to import raw materials, especially food, medical and agricultural drugs, health materials, fuel, raw materials, modern machines and technology needed…” Moman said.
He also said it would allow for transfers to students overseas.
According to a spokesman for Da Afghanistan Bank the humanitarian aid delivered to Afghanistan through the United Nations remains in its original state by agreement and is exempt from this arrangement.
A telegraphic transfer (TT) is an electronic method of transferring funds utilized primarily for overseas wire transactions.