'Kabul Bank Destabilises Afghan Economy'

Head of Afghanistan's Chamber of Commerce and Industries (ACCI) warned on Saturday that Kabul Bank should be recovered; otherwise, it will badly affect the Afghan economy

"If the situation is not controlled and people are not informed about what's going on, this could have very negative effects on the economy of the country and its monetary stability," said Head of the ACCI, Mohammad Qurban Haqjo.

The only way out of this dilemma is the leak of truths by the bank, he said.

While praising the Afghan government for providing support to Kabul Bank, the shareholders remarked Kabul bank's situation is going back to normal.

Mr Haqjo sees the shift on the Kabul Bank management troublesome.

Meanwhile, President Karzai's brother and a shareholder of the Bank, Mahmud Karzai said the main factor behind this problem was inaccurate reports published by the Washington Post.

"Kabul Bank promises all the people of Afghanistan that no single penny will be lost and the Afghan government strongly stands behind this issue," said Mahmud Karzai.

Some four days ago, Western news websites published reports on Kabul Bank's insolvency which was immediately rejected by the Afghan government that declared its full support to the bank.

But still one could see a significant psychological impact on the clients by millions being taken out of different accounts of the Bank.