Money transfers to Afghanistan restarts: Western Union

Roman AhmedWeb Editor

02nd Sep, 2021. 11:13 pm
foreign investment

The American multinational financial services company on Thursday announced Western Union will resume its money transfer service to Afghanistan as the Taliban faces huge economic hurdles after their takeover last month.

A Treasury spokesperson said that The US Treasury Department has told financial institutions that they may process personal transmittals to Afghanistan.

“Western Union is pleased to share that it is resuming its money transfer services into Afghanistan, starting September 2, so that our customers can once again send money and support their loved ones at this time,” said a Western Union spokesperson.

Further adding that Western Union would relinquish transfer fees from September 3 through 17 “We understand the urgent needs of our customers and their families and are committed to supporting them,” said the spokesperson.

According to the World Bank, Transmittals from Afghanis living abroad are critical for the penurious economy of the country and amounted to almost $789 million last year.

Whereas, previously the Washington-based development bank announced it would append aid to the country, saying it was “deeply concerned about the situation in Afghanistan and the impact on the country’s development prospects, especially for women.”

Western Union, the world’s largest money transfer firm, and Moneygram both postponed such services after the Taliban takeover

Through shutting off a major source of funds that many families rely on to pay for food.

Furthermore, the IMF also announced shortly after the Taliban’s takeover that it would append its support to the country, citing uncertainty surrounding its leadership.

 

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