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Small-value notes rejection upsets phone card vendors (Video).

JALALABAD (PAN):The mobile phone credit card sellers union in eastern province of Nangarhar on Monday complained that private and state-run banks' regional branches refused to accept small-denominations of banknotes.

Union chief, Habibullah, said these financial institutions rejected currencies lesser than 100 afs, although card distributors have an official letter from the central Da Afghanistan Bank.

Private bank officials say the main reason for rejecting these notes was the central bank itself did not accept small-denomination currencies either, said Habibullah, adding that the new practice had impacted their business.

He warned that union, with about 400 members in Jalalabad city alone, would begin selling the cards using Pakistani rupees if their demands were not met.

PAJHWOK/Babrak Amirzada

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Publication:Pajhwok Afghan News (Kabul, Afghanistan)
Date:May 1, 2012
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