Annual Report 2017
Annual Report 2016




MONEY SERVICE PROVIDERS (HAWALA)

As per Da Afghanistan Bank law; Money Service means any service conducted in relation to money including safekeeping, money transmission, check cashing, or currency exchange and Money Service provider means any person who engages in the business for providing a money service. Meanwhile, MSPs are required to be licensed by DAB financial Supervision Department.

Money Service Providers are required to report suspicious transaction report to FinTRACA in light of the article 18 AML-PC law of Afghanistan within the three business days.

Moreover, in accordance with article 17 of the AML-PC law and Money Service Providers Regulation, MSPs shall report the particulars of transactions in excess of AFS 500,000 or its equivalent to other currencies to the FinTRACA no earlier than the first business day and no later than the 10th business day of a month following to the month during which the transaction occurred.

And, any two (2) transactions by and between the same two parties that occur within 2 consecutive days of one and other, which transactions aggregate AFN 500,000 or greater should also be reported.