Tag "Kabul Bank crisis"
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Update on Afghanistan’s Economy-World Bank Report
One year into the transition process, Afghanistan sustains robust economic growth. An exceptional harvest, supported by the launch of first large-scale mining activities, increased real GDP growth from 7.3 percent to an estimated 11.8 percent in 2012. Inflation dropped to
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Update on Afghanistan's Economy-World Bank Report
One year into the transition process, Afghanistan sustains robust economic growth. An exceptional harvest, supported by the launch of first large-scale mining activities, increased real GDP growth from 7.3 percent to an estimated 11.8 percent in 2012. Inflation dropped to
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How fair was Kabul Bank scandal verdict?
By Qiam Noori-Three years ago, when nearly USD 900 million was embezzled through forged documents and fraudulent loans, Kabul Bank faced a financial crisis that brought the bank on the verge of a collapse. A special tribunal sentenced the defendants,
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IMF, Afghanistan agree path to fresh aid
The IMF said Monday it had reached agreement with Afghanistan on the reform path needed to unlock the next aid installment for the war-ravaged country. The International Monetary Fund granted Afghanistan a $133.6 million line of credit in November 2011
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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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REPORT OF THE PUBLIC INQUIRY INTO THE KABUL BANK CRISIS
Kabul Bank, Afghanistan’s first private bank and the representative of the first experience of Afghans with formal banking structures, collapsed nearly two years ago after a number of individuals embezzled million of dollars money that belonged to the citizens. The
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Hamid Karzai is responsible for Kabul Bank crisis-Abdul Qadir Fitrat
Former Afghan Central Bank Chief Abdul Qadir Fitrat alleged that the government is also responsible for the crisis of the Kabul Bank, adding the main individuals behind the collapse of the bank are still free and have not been questioned
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First court session on Kabul Bank’s case ends inconclusive
The first public hearing of Kabul Bank’s case was held in Kabul on Wednesday. After 16 months of negotiations and controversies over the case of Kabul Bank, its first public hearing ended without a result. The court officials say they
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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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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
Read MoreDefaulter’s Lawyer Wants Kabul Bank Borrowers to be treated equally
The defense lawyer for Sher Khan Farnood- the Chairman of Kabul Bank until late 2010- suggested that the Kabul Bank issue should be dealt with according to the banking laws and all the borrowers should be treated equally. Sher Khan
Read MoreKabul Bank Resolution Needed to Keep People’s Trust in the Bank Alive
The Afghan Coalition for Transparency and Accountability (ACTA) said that the Kabul Bank case should be handled seriously and recommended that the case should be handed over to a global entity to study and assess for an independent review of
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