Untitled - orsam
Untitled - orsam
Untitled - orsam
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"Mismanagement is being investigated," Omar Zakhilwal said on Tuesday on the<br />
sidelines of an Afghanistan investment conference in Dubai.<br />
Hundreds of Afghans queued outside the bank in September, trying to withdraw their<br />
savings after reports that millions of dollars had been lent and poured into high-risk real<br />
estate investments in Dubai.<br />
Afghan authorities then seized operations at the bank, which is Afghanistan's biggest<br />
privately owned, following allegations that Sherkhan Farnood, the chairman,<br />
misappropriated funds.<br />
Farnood has been ordered to hand over more than $150m in luxury villas and<br />
condominiums that he allegedly bought with the bank's money for various Afghan elites,<br />
including Mahmood Karzai, the brother of the Afghan president.<br />
Zakhilwal said the lender was now under the control of the central bank but was<br />
functioning normally.<br />
"Kabul Bank has stabilised and is operating normally," he said. (Al Jazeera)<br />
*This media summary is prepared by ORSAM Middle East Research Assistants Sercan Doğan and Nebahat<br />
Tanrıverdi O. It covers news and commentaries as reported by the national media sources publishing in the<br />
Middle Eastern countries. The views expressed are not those of ORSAM and their inclusion does not imply<br />
factual accuracy.<br />
*Bu bülten Kasım 2009’dan beri ORSAM Ortadoğu Uzman Yardımcıları Sercan Doğan ve Nebahat Tanrıverdi O<br />
tarafından hazırlanmaktadır. Bülten Ortadoğu ülkelerinin yerel haber kaynaklarından derlenmektedir. Belirtilen<br />
görüşler bölge ülkelerinin haber kaynaklarına ve ismi geçen yazarlara ait olup ORSAM’ın görüşünü<br />
yansıtmamaktadır.<br />
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