|History and Biodata
Abdul Durrani Abdullah Dowrani (20080300 - )
FDRC Members (all as of 20080300 - ):
Hussein Shah Rahmani
Abdullah Dowrani, chief of the Financial Disputes Resolution Commission, said around $140 million in capital has been recovered in the Old Kabul Bank fraud case, on top of more than $200 million in property assets and $218 million in debt to be returned by borrowers. Aside from the $560 million in unpaid interest, Dowrani said much of the rest should not be difficult to recover. Contrary to popular assumption that most of the money ended up in Dubai, he said, as little as 10 percent was smuggled overseas and channelled into luxury villas. The rest was invested in Afghanistan, from an oil storage facility, a television station and a gas firm to large-scale property developments, some of which the government had agreed to purchase. The stolen funds were concealed and disguised as large expenses, bonuses, rents and salary payments to ghost staffers. Some funds were siphoned out of the country either electronically or in cash aboard Pamir Airways, owned by shareholders linked to the bank.
The FDRC is established in accordance with Article 106 of The Da Afghanistan Bank Law which states, “There is established by this law a commission for settling financial disputes which shall resolve disputed financial cases prior to judicial proceedings, on mediation basis.” It is a specialized forum dedicated to independent, transparent, efficient, and technically sound resolution of complex regulatory matters in the banking and telecommunication sectors. It is designed to hear disputed financial cases prior to judicial proceedings on a mediation bases, and to perform functions specified in the Banking Law, the Da Afghanistan Bank Law, and The Telecommunications Services Law.
For administrative purposes, the FDRC budget flows through Da Afghanistan Bank budget, but the Commission functions independently. It is not an alternative disputes resolution (ADR) such as Arbitration, Mediation or settlement but it is an institution with exclusive (original) jurisdiction to hear disputed financial cases in banking and telecommunication sector. It is a unique and potentially highly valuable experiment in Afghanistan's governmental and legal structure. It represents a nascent form of Administrative Law Tribunal. The concept of providing independent, technically proficient, transparent and efficient review of regulatory decision making is relatively new to Afghanistan, and it will have important implications for development of the legal system as a whole.
According to Article 108 of the Da Afghanistan Bank Law, The Commission shall be composed of :
Three lawyers appointed by the president upon proposal of the Governor of The Afghanistan Bank (DAB)
Three professional accountants with experience and background in financial affairs who shall be appointed by the president upon the proposal of the Minister of Finance
Administrative civil servants and staff, as needed
The head of the commission shall be selected from one of the lawyers upon the proposal of the Governor of DAB by the president