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Home | Opinions | Economic | Old banknotes set on fire

Old banknotes set on fire

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Old banknotes set on fire

 Following people complaints on old Afghani currencies, the Afghanistan Bank torched 360mln Afghanis which had lost their value. 

The banknotes serial numbers had not been reportedly recorded in the bank’s data, an action which will pave the way for corruption. 
According to the bank’s officials, due to wrong using of Afghani banknotes, 41billions of Afghanis had been burnt over the last eleven years. 
Qasim Rahimi, second deputy to the Central Bank said it was very hard to proceed the banknotes through their serial numbers and re-burn them.
At the same time, a number of experts on banking affairs said that the old banknotes should not set on fire without registering their serial numbers, because, it would easily pave the ground for corruption. 
President of Pashtani Bank, Taj Mohammad Akbar said the old currencies’ serial numbers should first be registered and then, they should be torched in a clean atmosphere at the presence of different organizations’ representatives.
In the meantime, the observant organizations on burning banknotes, go to the bank a day ago, and after collection of old currencies, transfer them to the Central Bank and on the next day, they would burn them all.
Head of the finance ministry tariff department, Mohammad Aref Musazai said, after checking and controlling of the moneybags, they would be transferred to burn.
This is while that Afghanistan pays 3 afs for any banknote.
It is merit to mention that the burnt banknotes included 10, 50 and 100 afghani currencies. 
Earlier, Da Afghanistan Bank declared it would exchange the old currencies with new ones.
This is while that the Afghan people are complaining on increase in number of old currencies in the market, saying they are facing with many problems in this regard. 
They added that the shopkeepers don’t take such banknotes on one hand and the money exchangers buy them with low price on the other.
In a telephone conversation with The Kabul Times, a Kabul University lecturer, Saifuddin Saihoun said that banknotes are the identity of the countries. But unfortunately, some people don’t know how to keep them, he further said.
Welcoming the recent step taken by the Central Bank, he added that Da Afghanistan Bank should collect all old banknotes and set them on fire as soon as possible.
Kabul money exchangers said when the Central Bank burnt old currencies, it should print new monies instead, because, right now, we can hardly find change in the market. 
 
 

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