60% of Kabul Bank embezzled money recovered

in Afghan Business

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 embezzlement of USD 900mn by the bank’s own officials and shareholders.

Sher Khan Fernud, Khalil Ferozi, Mohammad Hussain Fahim, Mahmood Karzai, Gulbahar Habibi, Abdul Ghafar Dawi, Mohammad Ibrahim, Sofi Nisar, Tahir Zahir, Daud Nasim were among those violating Article 34 of the bank law by misusing customers’ deposits.

The government bailed the bank out at USD 825mn to overcome the crisis that pushed Afghanistan’s banking system to the brink of ruin.

President Ghani reopened the Kabul Bank case soon after taking oath and the Kabul Bank Clearance Committee was formed to expedite inquiry into the scandal.



Related Articles

Construction of a Health Training Center in Mazar-e Sharif

On April 1st2013 a cornerstone ceremony of a new Health Training Centre for the Department of Public Health of Balkh

“More than 1000 historical monuments are endangered in Afghanistan”

Afghanistan’s minister of information and culture criticized the world community’s approach in relation to the tourism industry of Afghanistan and

Corruption and Embezzlement- Afghanistan and International Community’s Major Concern

Afghan government has requested the international donors to provide them the list of prominent officials with whom they have signed

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Your e-mail address will not be published.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*

Time limit is exhausted. Please reload the CAPTCHA.

cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china cheap nba jerseys from china wholesale nba jerseys from china discount nba jerseys from china