Kabul Bank Privatization Approved by the Cabinet

in Afghan Business

Kabul Bank Privatization Approved by the Cabinet

The Cabinet has approved a privatization plan for the New Kabul Bank, previously known as Kabul Bank, once the country’s largest private lender, the Presidential Palace said on Tuesday. The privatisation plan was approved after its evaluation by an economic committee headed by second vice-president, Mohammad Karim Khalili, the Administrative Affairs Department at the Presidential Palace said in a statement.

Kabul Bank is Afghanistan’s first private bank that was hit with a nearly 1bn USD banking corruption scandal in 2010 that threatened funding for the Afghan government.

President Hamid Karzai then ordered the set up of a special prosecutors office to tackle the scandal and demanded all bad loans be repaid within two months.

Kabul Bank, which had ties to the family of Karzai and his first vice-president, nearly collapsed in 2010 and has since been described by western officials as a virtual Ponzi scheme.



Related Articles

United States and Afghanistan Break Ground on New Women’s Dormitory at American University of Afghanistan

Afghanistan CEO, Dr. Abdullah Abdullah, Acting Deputy Chief of Mission at the U.S. Embassy in Kabul, Ambassador Michael Raynor, United

International community pledges support for Afghanistan’s economic reforms

Representatives from the international community attended a meeting in the Afghan embassy in Washington, D.C. where they pledged to support

Afghanistan one of the recipients of the Peace through Commerce Medal

The International Trade Administration’s Peace through Commerce medal has recognized eight individuals and organizations that have played a crucial and

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Your e-mail address will not be published.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