English | دری

Borrowers given 2 months to return Kabul Bank loans

in Afghan Business

Borrowers given 2 months to return Kabul Bank loans

The government on Tuesday gave borrowers two months time to return loans to the troubled Kabul Bank, the president’s office said.

The decision came at a high-level meeting chaired by President Hamid Karzai, the Presidential Palace said in a statement.

Issues related to the loans issued by the bank, which faced a grave financial crisis due to unauthorised credit and other anomalies last year, were discussed.

The meeting decided to create a special committee to identify the people responsible for the crisis and deal with them under the relevant law, the statement added.

On November 30, Da Afghanistan Bank Governor Noorullah Delawari said the near collapse of Kabul Bank was the result of non-implementation of banking laws.

So far, $74 million of the loans obtained by shareholders had been recovered and another $400 million were expected to be repaid in the near future, according to Dilawari.

“As of now, 80 percent of Kabul Bank loans are accounted for, with 20 percent loanees yet to be identified,” Delawari said, adding an investigation was underway to identify unknown credit beneficiaries.

Properties purchased with Kabul Bank loans in Dubai include 17 residential houses and two high-rise buildings, says First Deputy Governor of Da Afghanistan Bank Mohibullah Sapi.


Tags assigned to this article:
Kabul Bank

Related Articles

Afghanistan’s economic issues must be seriously considered- Ahmadzai

Head of the Afghan Transition Commission Ashraf Ghani Ahmadzai warned about the potential threats Afghanistan might face, if significant attention

40 tons of fruits flown from Kandahar to India through Afghan-India air corridor

The fourth cargo plane flying from southern Kandahar province through the Afghanistan-India air corridor exported fresh and dried fruits weighing

Afghan TV programs to switch from analog to digital system

Afghan Minister of Telecommunication and Information Technology Amirzai Sangin announced on Wednesday that Afghan’s TV programs would be converted to

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Your e-mail address will not be published.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.