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Bank-i-Milli Afghan allocates loans for Afghan industrialists

Bank-i-Milli Afghan has agreed to grant USD 100mn in Islamic loans and USD 100mn in ordinary loans to Afghan industrialists. An agreement to that effect was signed between the Bank’s Chairman, Ahmad Khushraw Zia, and Afghan Association of Industries in

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Afghan government to merge 3 national banks

The Afghan Finance Ministry has reportedly proposed to the presidential palace merging of the three national banks of Afghanistan—Bank Millie Afghan, the New Kabul Bank and Pashtanay Bank—and forming one stronger national bank. According to reports, ARG has approved the proposal

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President Ghani issues decree to reopen the Kabul Bank scandal case

On his second day of presidency, Dr. Ashraf Ghani Ahmadzai issued a decree to reopen the Kabul Bank scandal case. This comes after he announced that curbing corruption was at the top of his presidency agenda, and insisted that graft

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DAB and HARAKAT team up to improve access to finance in Afghanistan

Afghanistan’s central bank, Da Afghanistan Bank (DAB) and Harakat- Afghanistan Investment Climate Facility Organization signed an agreement on the implementation of the Shariah Compliant Project. The Shariah Compliant Project is aimed at tackling problems of the Islamic Banking, which is

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DAB sells USD 36mn to Afghan money exchangers

The Central Bank of Afghanistan, Da Afghanistan Bank, sold a total of USD 36mn to Afghan money exchangers at Sarai Shahzada and private banks at an exchange rate of between 54.93 and 54.95. Sarai Shahzada is Afghanistan’s largest and historical

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Afghanistan to establish a stock exchange market

The Afghanistan central bank, Da Bank of Afghanistan (DAB), plans to create the first ever stock exchange market in Afghanistan. Head of DAB Noorullah Delawari said the plan is proposed to the president and hoped to gain his approval. Mr.

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Only one bidder of the scandal-hit Kabul Bank steps forward

Three domestic and two international groups were approved through the Expression of Interest stage for the purchase of New Kabul Bank shares, but only one stepped forward to bid. The bidders approved included, Ali akbar Zhawandai Consortium, Forbes and Manhattan,

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Hamid Karzai is responsible for Kabul Bank crisis-Abdul Qadir Fitrat

Former Afghan Central Bank Chief Abdul Qadir Fitrat alleged that the government is also responsible for the crisis of the Kabul Bank, adding the main individuals behind the collapse of the bank are still free and have not been questioned

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Afghan police arrested for looting money from bank

Two policemen in eastern Nuristan province have been arrested with 9mn AFN stolen from a branch of Da Afghanistan Bank. Governor Tamim Nuristani said investigation has been initiated and the culprits shall be brought to justice soon. Nuristan provincial police

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Afghani currency falls against foreign currencies

Afghani currency value hit its record low in a decade on Tuesday, with one dollar accounting for 55 AFN in the capital city. Governor of the Da Afghanistan Bank (DAB) Noorullah Delwari linked the drop in the Afghani currency value

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Serious efforts to resolve the issue of the Kabul Bank- IMF

The International Monetary Fund (IMF) said on Monday Afghanistan has achieved progress in structural reforms; however, efforts should be intensified to resolve the Kabul Bank issue. Paul Ross, head of an IMF mission that wound up Kabul talks with Afghan

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All properties of Kabul Bank must be sold in one month- President Hamid Karzai

President Hamid Karzai has assigned the Kabul Bank’s Receivership Department to sell all assets of Kabul Bank within a month. A meeting, chaired by President Karzai, was held yesterday to examine the progress and attainment of Kabul Bank loans. The

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Afghanistan acts to curb flight of capital

Afghanistan has taken new steps to combat rampant capital flight after the central bank found that the amount of dollars flown out of Kabul doubled to $4.6bn last year. Afghan officials believe many of the brick-sized stacks of $100 bills

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