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Kabul Bank Resolution Needed to Keep People’s Trust in the Bank Alive

in Afghan Business

Kabul Bank Resolution Needed to Keep People’s Trust in the Bank Alive

The Afghan Coalition for Transparency and Accountability (ACTA) said that the Kabul Bank case should be handled seriously and recommended that the case should be handed over to a global entity to study and assess for an independent review of the situation.

“If the bank issue is not pursued in a strict manner, the trust of people towards the bank system will die,” said ACTA in an open letter to the Central Bank president.

According to ACTA member Shinkai Karokhail, an investigation should also look at other private banks in the country to check for mistakes that can be corrected.

ACTA wants serious actions to be taken otherwise it may lead to international community’s financial assistance depleting and consequently decreasing the country’s development budget.

“We believe that if there is no serious steps towards a solutions, there is possibility of a decrease in the international community’s efforts towards assisting Afghanistan,” ACTA member Hamed Sarwary said Thursday.

The accountability watchdog wants the results of the investigations to be provided to the common people as well, as part of transparency approach.

Meanwhile, ACTA also want to run an investigation into the embezzlement of the Law and Order Trust Fund, which is managed by the UN.

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