Daily Management Review

Western Union stops money transfers to Afghanistan


Western Union is no longer delivering remittances to Afghanistan due to the Taliban's takeover of the country, MarketWatch reports.

Richard Allaway via flickr
Richard Allaway via flickr
Now, Afghans who used to receive financial aid from relatives and friends abroad are left without financial support. According to the portal, the amount of money transferred to Afghanistan in 2020 was in hundreds of millions of dollars. According to the World Bank, remittances totalled $788.9 million.

Western Union admitted that the dangerous situation in Afghanistan is forcing them to take extreme measures, and the company has no other choice.

A large half of Afghanistan's population lives in abject poverty. 

According to The Wall Street Journal, a week before the Taliban* took over Kabul, the U.S. stopped sending dollars to Afghanistan and froze the assets of Afghanistan's central bank.

source: wsj.com, marketwatch.com