Business
Massive crowds form outside banks in Kabul, as locals rush to withdraw cash
Afghans wanting to withdraw money were seen gathered outside banks in Kabul, Afghanistan on Monday, amid concerns over the implementation of new restrictions on cash withdrawal.
Earlier on Saturday, a statement from the Taliban had ordered banks to reopen and imposed a limit on withdrawals of 20,000 Afghani ($233).
Local resident Shah Agha hoped the reopening of banks would result in work being available for Afghans again. “The working situation is zero because banks and exchange markets are closed. We call on the Islamic Emirate to build the Afghan economy as soon as possible,” he said.
Taliban spokesperson Zabiullah Mujahid said officials had already been appointed to run key institutions including the ministries of public health and education and the central bank.
He also said he expected the serious economic turbulence which has hit the Afghani currency to ease soon.
Prices for commodities including flour, oil, and rice are rapidly rising and the currency is plunging, with money changers in Pakistan already refusing to accept the Afghani.