Kabul residents face difficulties withdrawing money from banks, say will no longer use banks

A number of Kabul residents on Thursday said that they no longer want to keep their money in the country's banks as they are facing difficulties in withdrawing their money, local media reported.

Since the fall of the former government, Afghans have faced challenges in withdrawing their money from the banks and said they no longer want to deposit funds, adding that they will take out all of their previously deposited funds, Tolo News reported.

"We used to save our money in the banks, but currently they are not paying us on time. The banks have lost trust among the people, we no longer want to save our money in the banks," said Noorullah, a resident of Kabul.

Meanwhile, a number of economists said that if the banking system continues at this rate, the banks will not be able to provide services, and this will have a negative impact on the country's economy, Tolo News reported.

"If everyone transfers its money to other countries, what is left? The bank is an economic structure--when we deposit our money in the banks then that is used for investments," said Wahab Qati, an economic analyst.

According to Tolo News, officials of Afghanistan's central bank recently said in a statement that private and public banks must increase the withdrawal limit of the customers' money to USD 400 per week.

( With inputs from ANI )

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