DAB, Burns 420 Million Afghanis Worth of Worn-Out Banknotes in Kandahar
DAB, Burns 420 Million Afghanis Worth of Worn-Out Banknotes in Kandahar
Kabul 24: Da Afghanistan Bank (DAB), currently managed by the Taliban, announced the incineration of 420,831,000 Afghanis’ worth of worn-out banknotes in Kandahar.
The official announcement was made on the bank’s social media page on Wednesday, October 25th. The bank revealed that this significant amount of worn-out banknotes was burned over the past two days.
Noorahmad Agha, Deputy Chief of DAB under the Taliban administration, stated that these banknotes had been collected from the southwest zone.
According to him, DAB has introduced new banknotes into the market over the past three months and simultaneously withdrawn the worn-out banknotes from circulation.
He attributed the premature deterioration of the banknotes to various factors, including frequent cash transactions in the market, limited use of electronic payment systems and credit cards, improper handling, and people choosing to keep money at home instead of in banks.
It is noteworthy that last year, Da Afghanistan Bank, under the Taliban’s management, burned 150 million Afghanis worth of worn-out banknotes.
This development comes at a time when the increasing prevalence of worn-out banknotes has raised serious concerns in the country’s daily transactions within the markets
