DAB Urges control of Kabul Bank Shareholders' Properties

While preventing Kabul Bank Shareholder's properties from sale, in a letter to Kabul Municipality, DAB urged supervision over the shareholders' properties

The Afghan Finance Ministry said Afghanistan's central bank (DAB) is responsible to control and monitor the Banking system in the country.

The spokesman for the Finance Ministry, Aziz Shams told TOLOnews that Kabul Banks has its own, "shareholders and is a private bank. They will decide how to receive money. And the DAB which is responsible to control private banks, expresses its views about the banks.

Meanwhile, Dr Abdullah, the main opposition party leader, commented that Afghan government and the Bank shareholders are responsible to safequard people's money.

The government has announced it will support Kabul Bank, but it should also announce through which approaches it will do so, Dr Abdullah said.

"Most of the contracts were awarded for these banks during the presidential election campaign and contracts after contracts were awarded to the private banks and the purposes were known and that time nobody had thought about the consequences of this, because there was an immediate interest," said Dr Abdullah.

They supported the presidential campaign and then in exchange they won the contracts to pay the salaries of police, Ministry of education and the same with other ministries.

The Afghan government and Ministry of Finance consistently announced to people that their money is safe, but people are still trying to get their money out.

We need money because there is Eid [a three-day Muslim ceremony marking end of Ramadan] ahead of us, but we haven't been able to withdraw money from our accounts.

Previously, some US news websites published reports claiming corruption in the bank.

In a bid to show its support to the bank, the Afghan Ministry of Finance has sent $100 million to pay the salary of government employees.

At the same time, Deputy Treasure Department of the US has said he will help Kabul bank technically, but he cannot give the US taxpayers' money to the bank to prevent its bankruptcy.