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    Bid received for New Kabul Bank shares

    KABUL (PAN): The Ministry of Finance on Saturday opened bids for the purchase of shares in New Kabul Bank in the presence of civil society groups and media representatives.

    Following an international marketing effort, five bidders were approved through the Expression of Interest (EoI) stage, a statement from the ministry said.

    The bid was received from the Ali Akbar Zhawandai Consortium, involving Afghan investors.

    EoIs from four investors -- Forbes and Manhattan, Kru Capital Partners, Afghanistan International Bank and the Amania Group -- were approved. However, they withdrew and did not submit bids.

    A team including representatives from the Ministry of Finance, Da Afghanistan Bank (DAB), the Ministry of Justice and New Kabul Bank will evaluate technical bids and business plans.

    The price bids -- weighted 70-30 -- will be opened on March 13 and the winner announced, subject to Cabinet approval on April 7.

    pr/mud