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| Afghanistan | |
| Kabul Bank Licence Submitted to Finance Ministry | |
| 2011-04-21 | |
| [Tolo News] Central Bank Wednesday announced that Kabul Bank's licence has been submitted to finance ministry and that it will run under the ministry going forward. Afghanistan's Central Bank (DAB) said from today on Kabul Bank's stakeholders will have no links to the bank and added that they should pay their loans and clean their accounts in a months time or face legal action. Following President Hamid Maybe I'll join the TalibanKarzai's ... A former Baltimore restaurateur, now 12th and current President of Afghanistan, displacing the legitimate president Rabbani in December 2004. He was installed as the dominant political figure after the removal of the Taliban regime in late 2001 in a vain attempt to put a Pashtunface on the successor state to the Taliban. After the 2004 presidential election, he was declared president regardless of what the actual vote count was. He won a second, even more dubious, five-year-term after the 2009 presidential election. His grip on reality has been slipping steadily since around 2007, probably from heavy drug use... remarks suggesting reform in the bank, Central Bank of Afghanistan said today that the bank will be put out to tender in three months. Head of DAB Abdul Qadir Fitrat said investigations have set Kabul Bank loans at $579 million and after Central Bank took over $47 million of that figure has been repaid. Kabul Bank, the leading private bank in the country, was on the brink of collapse last year mainly because of mismanagement and substandard loans. Mr Fitrat said 19 cases of fraud have been referred to Attorney General's Office and two large corruption cases have been sent to the High Office of Oversight and Anti-corruption. Loans will be collected and "If anyone doesn't comply, we will take action. We will seize their properties at the order of the court. Even we are ready to confiscate their properties if they do not cooperate," Mr Fitrat said.
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| Posted by:Fred |