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Afghan government invites bids for New Kabul Bank purchase

The Afghan government invited bidders to submit their bids for purchase of the New Kabul Bank. The announcement was made on Wednesday by Head of Treasury Department at the Ministry of Finance, Mohammad Aqa Kohistani, at a press conference. “Any

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60% of Kabul Bank embezzled money recovered

The officials of Da Afghanistan Bank (DAB), Afghanistan’s central bank, announced on Thursday that 60% of Kabul Bank’s stolen money has been recovered. The government seized Kabul Bank in 2010 when the bank was on the verge of collapse after

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Afghan government issues travel ban, freezes assets of Kabul Bank defaulters

The Afghan government has issued travel bans for 150 Kabul Bank defaulters and frozen their assets, the Office of the Attorney General announced on Monday. The court ruling comes after the expiration of the deadline issued to defaulters by President

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Afghanistan, IMF discuss privatization of New Kabul Bank

Afghan Finance Ministry and the International Monetary Fund (IMF) are holding discussions over the privatization of the loss-making New Kabul Bank. This comes after the Afghan government failed to find a suitable buyer for the bank. In December of last

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Afghanistan Central Bank approaches Interpol to find bank robbers

Afghanistan’s Central Bank, Da Afghanistan Bank (DABS), has approached Interpol to find the perpetrators of the robbery in one of the bank’s branches in Spin-Boldak district of Kandahar. Staff at the Spin Boldak district of Kandahar province’s Afghanistan Central Bank

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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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Kabul to launch credit registry system to manage loans

An online public credit registry system is being established in Kabul city to manage loans and facilitate transactions. Funded by the World Bank, the project is being implemented by the Da Afghanistan Bank (DAB) at a total cost of USD

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Thousands of entrepreneurs from across Afghanistan flocked to the Access to Finance Exhibition

This year’s Access to Finance Exhibition attracted more than 3,500 members of the Afghan business community to showcase their businesses. The event featured 50 booths of banks, financial and lending institutions, insurance companies, telecommunication and business support services. The two-day

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New Kabul Bank running in a loss

According to Ministry of Finance (MoF) officials, the New Kabul Bank is running in a loss since the past 4 years. Director of the treasury at the MoF, Mohammad Aqa Kohistani, the New Kabul Bank has faced a loss of

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Hayatullah Dayani wants the Afghan state bank’s debtors detained

Currently imprisoned in Pul-e-Charkhi, Former Chief of the Pashtanay Bank Hayatullah Dayani demands assistance and cooperation in arresting the individuals involved in the embezzlement of the loans. Mr. Dayani was alleged for corruption and embezzlement of USD 27mn through forged

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The Adventure of Afghanistan’s Pashtanay Bank: Is it fight against corruption or fight against Afghanistan’s banking system?

Establishment of banking system in 1312 (equivalent to 1913 in Gregorian calendar) with the inauguration of Bank Milli Afghan (Afghan National Bank) was a major accomplishment, as it later served as the foundation for Afghanistan’s central bank, Da Afghanistan Bank.

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Kabul Bank defendants’ final trial to begin soon

Kabul Bank’s special tribunal has completed the investigation on Kabul Bank’s defendants after two years. Head of the tribunal Shams-ul-Rahman Shams said Monday that trial of the defendants will begin soon. “Our investigation is completed.  We are working on the

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Illegal outflow of money from Afghanistan affecting the currency

Da Afghanistan Bank Head Noorullah Delawari linked the recent depreciation of Afghani currency to the illegal outflow of foreign currency from Afghanistan crystallized by external factors including the US sanctions against Iran and the resultant pressure on the riyal. Mr.

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Two more suspects in the collapse of the Kabul Bank brought to the court

The second day of the prosecution on the fall of Kabul Bank was launched on Saturday. Twenty-two people have been alleged for embezzlement of Kabul Bank money and only seven of them have attended the court to present their information

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Kabul Bank unable to recover the debts

According to the Kabul Bank Receivership Department’s officials, the bank’s existing properties are not sufficient to compensate for the lost money that was embezzled. Given the high prices of the properties, no one is willing to purchase the properties. The

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3% of Afghans enjoy banking services

A roundtable was held in Kabul on Wednesday to discuss increasing access to credit and reforming the banking system. Hameedullah Noor Ebad, President of the National Center for Policy Research at Kabul University, shed light on the importance of the

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Kabul Bank new CEO not cooperating with investigation

The CEO of the new Kabul Bank, Masoud Khan Mosa Ghazi, is alleged by Kabul Bank’s Special Tribunal’s Director for not cooperating with the investigation of Kabul Bank’s scandal. Director Shamur Rahman Shams said he had sent a delegation to

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