Pajhwok Services

Photo Service

SMS News Service

Pajhwok combines its expertise and experience in news reporting with a telecom firm and thus reach a wider audience in an 
effective way.

To subscribe: 
English News Update : Send 83 to 824
Dari News Update : Send 84 to 824
Pashto News Update : Send 85 to 824

Election Coverage

Special Mining Page

Afghan Peace Process Special Page

Addvertise With Pajhwok

Daily Newsletter

Language
Sending Time (GMT / Kabul time)

Suggest a Story

Pajhwok is interested in your story suggestions. Please tell us your thoughts by clicking here.

Kabul Bank partly affiliated to finance ministry

Kabul Bank partly affiliated to finance ministry

By
On
Apr 20, 2011 - 16:20

KABULinfo-icon (PANinfo-icon): A portion of the Kabul Bank, Afghanistaninfo-icon's largest private-sector bank, has been affiliated to the Ministry of Finance, a senior official announced on Wednesday.

A safe part of the nation's biggest lender was taken over by the Department of Treasury at the ministry, Da Afghanistan Bank Governor Abdul Qadeer Fitrat told reporters in Kabul.

Last year, reports appeared in the media about the bank losing $300 million due to mismanagement, cronyism and dubious lending.

Subsequently, two senior shareholders were removed and the government took the bank's control. On April 11, President Hamid Karzai said foreign advisers shared a huge part of the blame for the crisis and would face criminal investigation.

"Hundreds of millions of dollars have been paid to foreign advisors and institutions to help Afghanistan's banking system, but they failed in their task," the president told reporters.

am/mud

Related Article


Download “Pajhwok” mobile App, on your smartphone to read and access latest news, features, interviews, videos and photos about Afghanistan.

   

Add new comment

Advertisement

Twitter Update