English | دری

Kabul Bank debtor kicked out of the housing scheme project

in Afghan Business

Kabul Bank debtor kicked out of the housing scheme project

After receiving criticism and pressure from the parliament and legal experts, President Ashraf Ghani issued a decree invalidating the contract on a housing scheme project signed with a bankrupt debtor of Kabul Bank, Khalilullah Ferozi.

Ferozi was released from the prison on Wednesday to inaugurate the ‘Smart City Township” project which he had signed with the Afghan government.

The government officials said participating of the Kabul Bank debtors was meant to motivate them to make investments and repay their debts.

Ex-CEO of Kabul Bank Khalilullah Ferozi was one of the main players behind the USD 900mn banking scandal. He was sentenced to 15 years in jail last year in November.

President Ghani ordered cancellation of the contract signed between Ferozi and Urban Development Ministry and upheld the court decisions against the debtors of Kabul Bank.

This followed after a number of MPs slammed the government for supporting criminals and corrupt individuals.

Legal experts also regarded this move as a violation of Criminal Law of Afghanistan.



Related Articles

No contract was signed with the Indian consortium on Hajigak mine: Afghan Mines Minister

Afghanistan’s Mines and Petroleum Minister Daud Shah Sabah cleared the air around the Hajigak mining contract and maintained that no

Afghanistan participates in an arts and culture exhibition in Turkey

Afghanistan displayed its cultural and artistic compositions in a festival that is held in Turkey every year. Opuses from over

Nangarhar’s development in 1391

Addressing a Nawroz ceremony, Governor Gul Agha Sherzai said up to 1500 uplift schemes have been executed at a cost

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*