Kabul Bank Tribunal Chief Claims Karzai, Fahim Still Owe Debt

News - Afghanistan


The former Kabul Bank's powerful shareholders claim they have repaid all their loans, but the head of the special tribunal on the Kabul Bank collapse has insisted they still owe money.

Shamsul Rahman Shams said Wednesday that Mahmoud Karzai and Mohammad Hassin Fahim have not repaid their loans from the former Kabul Bank.

He said the issue is being followed by the Financial Disputes Resolution Commission (FDRC) but without any satisfactory results.

"Still, the issue about the debts of Karzai's brother who was one of the shareholder's of Kabul Bank and Hassin Fahim has not been resolved. The issue is being studied by the Financial Disputes Resolution Commission but it has not been fruitful," Shams said.

President Hamid Karzai's brother Mahmoud Karzai owes $9 million and the vice-president's brother Mohammad Hassin Fahim owes $3 million, he added.

Mahmoud Karzai rejected the statement, saying that he is only in debt of $6 million to Shahin Money Exchange whose owner was former Kabul Bank chariman Shir Khan Farnood.

In turn, Karzai accused the tribunal, the Financial Disputes Resolution Commission and the Kabul Bank Receivership Department for complicating matters.

"These three organisations have made the issue so complicated," he told TOLOnews. "I only borrowed $6 million from Shahin Money Exchange and did not borrow from Kabul Bank."

"I wish the bank crisis was being assessed abroad in the US or Dubai courts," he added.

Hassin Fahim did not respond to TOLOnews' requests for comment.

FDRC head Abdullah Dawran said the bank's crisis is very complicated, but that most of those who were part of its collapse are being accounted for.

"Karzai and Fahim are part of the commission's work but there are others who have a hand in the crisis who we're dealing with here," Dawran said Wednesday.

Shams' comments come ahead of the verdict of the Kabul Bank special tribunal on the involvement of 22 people in Kabul Bank's collapse in 2010.

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