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Two eligible buyers of New Kabul Bank to submit their proposals

The Afghan Finance Ministry announced on Tuesday the names of two eligible buyers of the New Kabul Bank. The two firms interested in buying the New Kabul Bank are a local firm, Join-Stock Company, and the Muslim Commercial Bank of

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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

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Kabul Bank defaulters are participating in an investment project

The Kabul Bank defaulters are reportedly participating in the ‘Smart City Township’ which was inaugurated on Wednesday in capital Kabul. This move is to provide the debtors an opportunity to start their business in order to be able to pay

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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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Economic analysts ask for solution to New Kabul Bank issue

A number of economic analysts have called on the Afghan government to find a permanent solution to the New Kabul Bank issue. There are different options-privatizing the bank, terminating it or making it a full state run bank-, said economic

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Pakistani Bank interested in buying New Kabul Bank

A delegation from the Muslim Commercial Bank of Pakistan is visiting Kabul to explore the option of buying the New Kabul Bank. According to Tolo News, the Pakistani Bank is interested in buying the New Kabul Bank from the Afghan

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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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Investigation on Kabul Bank scandal resumes

The Attorney General Office (AGO) has resumed work on the Kabul Bank scandal and has confirmed that USD 729mn embezzled from the Bank is still missing. AGO spokesperson, Basir Azizi, said the government has managed to recollect only USD 184mn

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Government must invest more to revitalize New Kabul Bank

The fate of the New Kabul Bank (NKB) has remained undecided ever since the bank witnessed one of the worst scandals in history in late 2010. Investigations and judicial action in the aftermath of the bank’s crisis and scandal indicated

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Kru Capital purchases New Kabul Bank for USD 28.5mn

Afghan Ministry of Finance (MoF) have reported that the New Kabul Bank has been purchased for USD 28.5mn by Kru Capital whose technical offer received 80 marks. The winner initially appeared to be CBGI who had offered USD 21 million;

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UAE and US firms submit bids for New Kabul Bank

Two foreign firms, identified as America’s Construction Business Group Inc. and the UAE-based KRU Capital Partners Ltd., have submitted bids for the purchase of New Kabul Bank. Da Afghanistan Bank Chief Noorullah Delawari said details of the two new proposals

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USD 250,000 stolen from New Kabul Bank

According to reports, 14 million AFN (about USD 250,000) was stolen from a branch of New Kabul Bank in the Baraki area of Kabul city. The staff members behind the robbery have been identified. Two of the three accused staff

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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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Privatization process of New Kabul Bank re-launched

Afghan Ministry of Finance has re-launched the privatization process of the New Kabul Bank. Mohammad Aqa Kohistani, director of treasury at the Ministry, promised a transparent bidding process for the privatization of the bank. National and international investors are expected

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USD 50mn of Kabul Bank loans to be recovered in a fortnight

Da Afghanistan Bank (DAB), central bank of Afghanistan, announced Wednesday that Kabul Bank loans worth USD 50mn would be recovered in the next two weeks through the auction of defaulters’ property. Kabul Bank, Afghanistan’s first private bank, was on the

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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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Kabul Bank properties to be sold in Dubai soon- Noorullah Delawari

Officials of  Da Afghanistan Bank (DAB), Afghanistan’s Central Bank, say that the properties of Kabul Bank will be put out for sales in the next three weeks in Dubai city as per the orders of President Hamid Karzai. “A delegation,

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New Kabul Bank will be handed in to the private sector in a transparent manner

The next conference for the purpose of determining the New Kabul Bank’s buyer is awaited to be held in Dubai. Ministry of Finance says that domestic and foreign investors and entrepreneurs will be participating in this conference. Noorullah Delawari, Governor

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New Kabul Bank bidding process set in motion

As per the decision of the Cabinet on privatizing Kabul Bank, Afghanistan’s central bank in collaboration with the Ministry of Finance set in motion the bidding process for the New Kabul Bank. Both Afghan and foreign investors will take part

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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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