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.

MPs: Another bank on the verge of collapse

MPs: Another bank on the verge of collapse

By
On
Jul 11, 2011 - 17:21

KABULinfo-icon (PANinfo-icon): A number of Wolesi Jirgainfo-icon members on Monday claimed they had credible information that another private bank, Azizi Bank, was on the verge of collapse due to mismanagement.

Azizi Bank has been operating in Afghanistaninfo-icon for five years.

"I have information showing the bank is in crisis," Abdul Zahir Qadir, a lawmaker from eastern Nangarhar province, told the house.

He claimed a high ranking official at the bank had asked him not to raise the issue on the house floor. "He offered me a bribe of one million dollars," the lawmaker claimed.

Without naming the banker, Qadir promised to reveal the banker’s recorded voice to the lower house in the next session.

He also said the Worldinfo-icon Bank and the International Monetary Fund wanted to launch a probe into the bank's affairs, but they were not allowed to do so.

Last year, the country's largest private bank, Kabul Bank, was driven to the brink of collapse after hundreds of millions of dollars in bad loans came to light. Loan recipients included some members of President Karzai's inner circle.

Another lawmaker from western Farah province, Samiullah Samim, said that the former central bank governor, Abdul Qadir Fitrat, had told a Parliamentary panel that Azizi Bank was near collapse after it loaned out $500 million.

His statement was echoed by a lawmaker from Ghorinfo-icon province, Qurban Kohistani, who said officials of the bank had transferred $540 million to Dubai, in the UAE.

He also accused the bank of illegally constructing buildings in Kabul in connivance with the Onyx private construction company.

After a prolonged debate, deputy speaker Khalid Pakhtun, who presided over the session, said the acting central bank governor would be summoned to the house to address the issue on Saturday.

Bank officials did not return calls for comment.

ma/kg

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