Central Bank governor resigns

KABUL (Afghanistan Time): Khalil Seddiq resigend as governor of the Central Bank, a move taken at a time that Afghani currency is suffering a great loss.

President Ashraf Ghani accepted the resignation letter of Seddiq, officials said Monday.

Aimal Hashour, spokesperson for Da Afghanistan Bank (a term used in Afghanistan referring to Central Bank), called Mr. Seddiq’s illness as the reason of his resignation. Seddiq took over the position in 2015.

The former chief of Da Afghanistan Bank was 70 year and was born in Logar Province. He held a bachelor degree in economics and had previously served as chief executive of International Bank of Afghanistan and served as board member of the central bank.

Afghani currency keeps losing value against the powerful international currencies particularly the US Dollar.

Seddiq argued that political and security situation in the country and regional tension were driven-factors behind the drop of Afghani currency.

Earlier media had reported that four to five billion dollars were smuggled Iran through official channels. A reliable source revealed local officials in western Herat borders were aware of the flow of dollars into Iran and officials failed to stop the smuggling of dollar to Iran.