Central Bank Urges Trial of Kabul Bank Shareholders

Chief of Afghanistan's Central Bank has urged trial of Kabul Bank shareholders who are accused of personally using depositors' money.

Abdul Qadir Fitrat, Chief of Afghanistan's Central Bank (DAB) said cases of Kabul Bank dealers who have taken loans through fake documents and then have invested in Dubai and other countries were referred to Attorney General's Office.

On Wednesday Chief of Central Bank, head of New Kabul Bank and Deputy Finance Minister were summoned to the Afghan House of Representatives to brief parliamentarians on new developments and changes in Kabul Bank.

Speaking in the parliament Mr Fitrat called on justice organisations to cooperate in the prosecution of Kabul Bank cases.

Influential people have been involved in Kabul Bank drama and they have also confessed it, Mr Fitrat said.

Parts of Kabul Bank loans have been paid by some shareholders, including Sherkhan Farnood, Khalilullah Frozi and Mahmoud Karzai, he said.

"Pamir, Kabul Oil Companies, Gas Group and Bakhtar television are involved in it," Masoud Ghazi, Head of New Kabul Bank, said.

A number of parliamentarians said 103 representatives and some cabinet ministers are also involved in Kabul Bank crisis.

"The names of some 103 parliamentarians and ministers linked with the case should be disclosed, because they have no privilege over other people," Shukria Barekzai, an Afghan MP, said.

All the names "including ministers and lawmakers should be read out," said Ramazan Bashardost, another Afghan MP.

Kabul Bank, the biggest private bank in the country, was on the brink of collapse mainly because of mismanagement and substandard loans but was taken over by Afghanistan Central Bank.