Money exchangers in Herat protest Taliban's hike in licensing fees

On Thursday, September 5, a group of money exchangers in Herat gathered in front of the Taliban governor's office to protest a steep increase in fees for exchange licenses and bank guarantees imposed by the Taliban authorities. The money exchangers expressed frustration with the new costs, which they say are unaffordable for many in the industry.

According to the protesters, the Taliban has raised the total cost for obtaining an exchange license and a bank guarantee to 9 million Afghanis. Of this, 3 million Afghanis are required for the license, and 6 million Afghanis for a bank guarantee, a significant hike from previous fees.

The demonstrators claim that the Taliban is using these measures to bolster its cash reserves, as state banks under its control reportedly have low reserves of Afghani currency. Many money changers, they say, are unable to afford the increased fees, leaving the Herat exchange markets closed for over two months due to a lack of permits.

The protest comes after Taliban authorities previously ordered all money changers to obtain work permits to continue their activities, shutting down over 500 exchange shops in Herat that remain closed. The ongoing closures have disrupted local financial markets, causing concern among traders and residents who rely on the money changers for daily transactions.

The protest highlights growing tensions between local businesses and the Taliban, as economic pressures continue to mount under the group's rule. Many money changers are calling for the Taliban to reduce the fees and ease restrictions so that they can resume their operations and sustain the local economy.