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Deadline for collection of old banknotes extended

Deadline for collection of old banknotes extended

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On
Feb 16, 2017 - 13:38

KABULinfo-icon (Pajhwok): The central bank has extended the deadline for collecting and exchanging old currency notes after a number of moneychangers and people complained about the short period of time.

On February 1, Da Afghanistaninfo-icon Bank (DAB) said banknotes stuck together with glue, painted with colors, stamped, pale or perforated would be invalidated with effect from the new solar yearinfo-icon.

But moneychangers said the collection of all old banknotes in one month would be impossible and asked the ADB to extend the deadline.

On Thursday, a statement from the central bank said the period for collecting old banknotes had been extended to August 21 in line with Article 39 of the ADB law.

The bank said the bills joined together with sticky tape or carrying slight lines were valid and excluded from the process.

DAB officials say around 500 branches of government and private banks have been tasked countrywide with collecting such currency notes. Millions of old banknotes have been collected so far.

mds/mu

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