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New Kabul Bank Auctioned Again For Sale
Afghanistan Finance Ministry says that according to the decision of the cabinet, the New Kabul Bank should sell.
The original Kabul Bank, used to pay government salaries, collapsed in 2010 with debts of almost $1 billion, triggering a financial crisis.
The banking sector has yet to recover from the blow and the government has struggled to find a buyer for the new state-run institution.
However, deputy of Afghanistan Central Bank says that this time all conditions will be considered to identify the buyer.
Treasury chief of the finance ministry, Muhammad Aqa Kohestani noted that the New Kabul Bank is now in a situation of loss.
The troubled New Kabul Bank has lost $ millions over the past four years, according to Aqa, because of strict rules on its lending and investment.
“According to the decision of the cabinet the bidding for the New Kabul Bank will continue for two months and the conditions are that the buyer should have $ 20 million in his bank account and an official licensed even the buyer can be a foreign citizen,” Muhammad Aqa Kohistani, treasury chief of finance ministry said.
Kabul Bank was badly shaken and almost collapsed in one of “the worst banking scandals in history,” in the past.
Previously, President Ashraf Ghani opened efforts to bring former Kabul Bank officials involved in the Kabul Bank Crisis to justice, extend and enforce prison sentences for those previously convicted, and seek to recover hundreds of millions of U.S. and Afghan taxpayers’ dollars in funds stolen or lost by embezzlement, corruption, and fraud by the bank’s insiders.
Ghani vowed to seek to continue the investigation of the Kabul Bank crisis and fight corruption in Afghanistan.
In October 2014, the Ghani Administration in Kabul reportedly officially re-opened the investigation.
The Afghan embassy in Oslo will resume consular services on coming Monday, the Ministry of Foreign Affairs in Kabul announced Saturday.
The ministry said in a statement that the resumption of consular services in Norway was a “positive step.”
In August last year, the Ministry of Foreign Affairs in Kabul declared the consular services of Afghan missions in 14 Western countries including Norway to be invalid.
The statement cited corruption, lack of transparency and non-coordination with the ministry as reasons for the closure.
Eighteen people were injured following a dispute between two brothers in Afghanistan’s southern Helmand province on Friday, local officials said.
The incident occurred in the Old Bazaar area of Gereshk district and the people were injured when the son of one of the two brothers threw a hand grenade, the provincial department of information and culture said.
Two of the injured people are said to be in critical condition.
Officials did not say what caused the dispute.
One person has been arrested in connection with the incident.
The U.N. children´s agency on Saturday urged the Islamic Emirate of Afghanistan (IEA) to immediately lift a lingering ban on girls’ education to save the future of millions who have been deprived of their right to education since the IEA returned to power in 2021.
The appeal by UNICEF comes as a new school year began in Afghanistan without girls beyond sixth grade. The ban, said the agency, has deprived 400,000 more girls of their right to education, bringing the total to 2.2 million.
“For over three years, the rights of girls in Afghanistan have been violated,” Catherine Russell, UNICEF executive director, said in a statement. “All girls must be allowed to return to school now. If these capable, bright young girls continue to be denied an education, then the repercussions will last for generations.”
A ban on the education of girls will harm the future of millions of Afghan girls, she said, adding that if the ban persists until 2030, “more than four million girls will have been deprived of their right to education beyond primary school.” The consequences, she added, will be “catastrophic.”
Russell warned that the decline in female doctors and midwives will leave women and girls without crucial medical care. This situation is projected to result in an estimated 1,600 additional maternal deaths and over 3,500 infant deaths. “These are not just numbers, they represent lives lost and families shattered,” she said.
The Islamic Emirate has previously said that the issue of girls’ education is an internal issue in Afghanistan and efforts are being made to resolve it.
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