Business

Efforts to return loans from Kabul Bank scandals still continues – AGO

Published

9 years ago

April 12, 2015

Ariana News

(Last Updated On: October 25, 2022)

Kabul Bank embezzlement case is still under investigation by the Attorney General Office of Afghanistan, Officials.

Baseer Azizi AGO spokesman said that the Attorney General Office of Afghanistan is currently struggling to reimburse millions of dollars being embezzled from the Kabul Bank one of the largest private banks in Afghanistan between 2004 – 2010; while ,senate members accuse the government for neglecting the case.

Azizi said,” We are strongly struggling to return Kabul Bank moneys back, and we could return about $220 million so far. We have blocked the properties of those who have borrowed a large amount of money from the bank and we are also tracking to detain those who have escaped from the country.”

President Ghani issued a decree on his initial days inquiring to re-open the Kabul Bank embezzlement case, and the court soon sentenced the biggest scandals including Ex-Chairman Shir Khan Farnood, and Ex-CEO Khalilullah Ferozi, but the government is still unsuccessful to return moneys back and trial those powerful shareholders who were also involved in Kabul Bank cases.

Most of the scandals escaped out of the country without being trialed.

On the other hand, acting head of the Afghanistan Central Bank warns if the debitors fail to pay their loans they will sell their properties being freezed.

Acting Head of the Afghanistan Central Bank Khan Afzal Hudawal said,” We are trying to collect and return the Kabul Bank moneys, and I would like to warn the loaners once again if they fail to pay their loans we will sell their properties being freezed”.

Lawmakers believe that the government is neglecting the real scandals including ex-finance minister Omar Zakhilwal.

Zalmai Zabuli, the Senate Complaints Commission Chief said,” Investigations on Kabul Bank crisis case are still without any result and it is really concerning. Several documents prove involvement of government high ranking officials in Kabul Bank crisis including ex-finance minister involvement, but the question is why they are not trialing Omar Zakhilwal? Documents prove his involvement in Kabul Bank crisis, but both the government and the judiciary systems are keeping their silent about him.”

Earlier Ex-Kabul Bank Chief Executive Officer accused Mohammad Omar Zakhilwal being involved in Kabul Bank embezzlement crisis during a live court, but Mr. Zakhilwal rejected the accusation saying I haven’t signed anything.

Reported by: Rafi Sediqi

Business

Azizi calls on Malaysian investors to invest in Afghanistan

Published

1 day ago

April 24, 2024

Ariana News

(Last Updated On: April 24, 2024)

Nooruddin Azizi, Acting Minister of Commerce and Industry, met with representatives from the ministries of foreign affairs, defense and interior of Malaysia, along with other senior officials, on Wednesday and called on Malaysians to invest in Afghanistan.

The visiting delegation is being led by senior diplomat Dr. Shazelina Zainul Abidin.

According to the IEA’s foreign ministry, the two sides discussed bilateral trade, holding a business communication conference to strengthen trade relations between the two countries, the trade balance between Afghanistan and Malaysia, and creating a market for Afghan products, including carpets, cotton, and minerals.

According to the ministry, at the end of the meeting, the Acting Minister emphasized the increase of investment from regional countries in Afghanistan and called on Malaysian investors to also invest in Afghanistan.

Business

Afghanistan starts exporting via railway to Turkey

Published

3 days ago

April 22, 2024

Ariana News

(Last Updated On: April 22, 2024)

The Ministry of Interior says that Afghanistan has started exporting goods to Turkey via the Herat-Khaf railway line.

In a post on X, the ministry said: “Afghanistan’s exports to Turkey started in a calm atmosphere through the Herat-Khaf railway line.”

The ministry added that one train will run daily for a month and then two trains will run daily.

According to the ministry, the security of Khaf-Herat railway line is provided by the guards of the National Public Protection Agency.

Khaf-Herat railway project not only connects Iran and Afghanistan by rail, but also completes a 2,000-kilometer route along the east-west rail corridor from China, through Uzbekistan, to Afghanistan, to Iran, and on to Turkey and Europe.

As a landlocked country, this railway network will provide a safe route to connect with Europe via Iran’s railway network and Iran’s southern ports.

This railway line is strategic for trade between Iran and Afghanistan and will allow six million tons of goods to be sent between the two countries.

Business

Afghanistan, Kazakhstan to hold joint expo in Kabul

Published

4 days ago

April 21, 2024

Ariana News

(Last Updated On: April 21, 2024)

A joint expo between Afghanistan and Kazakhstan will be held in Kabul in the next four days, officials said on Sunday.

Officials of the Ministry of Industry and Commerce said that the two-day expo will be held for the purpose of expanding and strengthening trade relations between the two countries.

“This expo will be held as a follow-up of the Kazakh-Afghan international expo, which was held in the city of Astana, Kazakhstan, with the participation of a large delegation of the government and the private sector of the Islamic Emirate of Afghanistan,” Abdulsalam Javad Akhundzadeh, the spokesman of the Ministry of Industry and Commerce, said.
“At this expo, domestic products from different sectors of Afghanistan and the Republic of Kazakhstan will be put on display for two days.”

According to officials, 40 large Kazakh companies, and 40 large Afghan companies will exhibit their products.

Mohammad Saber Latifi, head of the Afghanistan International Expo Center, said that fruits, minerals and commercial services will be displayed at the expo.

During the expo, various memorandums of understanding for the trade of goods are also expected to be signed by companies.