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Kabul Bank scandal: $437m of stolen money recovered

Kabul Bank scandal: $437m of stolen money recovered

Jun 28, 2015 - 20:40

KABULinfo-icon (Pajhwok): Legal advisor to the president, Abdul Ali Mohammadi, said on Sunday $437 million of the total $987 million money stolen from Kabul Bank had been recovered, but $578 million remained unpaid.

After Kabul Bank, once the country’s largest private lender, plunged into a deep financial crisis in 2010, the government injected $825 million to overcome the crisis.

Muhammadi said the Cabinet had chalked out a plan which gave the borrowers eight years to return the loaned money. Under the plan, the defaulters had to remain committed to paying the money in installments.

The advisor said Ghulam Daud Nasib, Gulbahar Habibi, Tahir Zahir, Anwar Jagdalak, Mahmood Karzai, Haji Amrullah, Ismail Ghazanfar and 12 others were among the barrowers who had taken their salaries in advance.

He warned these individuals against disrespecting the court decision and refusing to pay the amount, otherwise their names would be put on the exit control list and their properties seized.

President Ashraf Ghani soon after taking oath reopened the Kabul Bank scandal and called for a prompt solution to the issue.


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