|History and Biodata
Businesses that owe the Kabul Bank money, according to the MEC public inquiry, include Gas Group (121.2 million USD), Hasin Fahim, later taken over by Farnod and Ferozi; Pamir Air (88.9 million USD), Zakhira (22.9 million USD), Kabul Neft (21.5 million USD), Hewadwal corporation (15.5 million USD), Gulbahar Towers (16.8 million USD), and Ariana Steel (1.5 million USD).(20121115)
The Attorney-General Office (AGO) on Thursday Oct 02, 2014 ordered the arrest of all 19 defaulters of the now defunct Kabul Bank. The defaulters were earlier released on bail.(20141002)
Governor of Da Afghanistan Bank Abdul Qadir Fitrat in Wolesi Jirga on 20110427 named some of Kabul Bank shareholders who were allegedly involved in misusing clients' deposits. Sher Khan Farnood, Khalil Ferozi, Mohammad Hussain Fahim, Mahmood Karzai, Gulbahar Habibi, Abdul Ghafar Dawi, Mohammad Ibrahim, Sofi Nisar, Tahir Zahir, Daud Nasim violated Article 34 of the banking law by misusing customers' deposits.
Kabul Bank shareholders had also invested in Pamir Airways, Gas Group, Kabul Mine Companies and Gulbahar Towers, the top banker alleged, adding they were removed and the bank taken over to prevent its collapse.
Mahmud Karzai, one of President Karzai's brothers, and Hasin Fahim, brother of Vice President Mohammad Qasim Fahim were the biggest shareholders and have not repaid their loans, according to the statement from the director clearance department of Kabul Bank, Abdul Hameed Mohebi. But the president's brother has said he has repaid the loans to the bank.(20120603)
Kabul Bank's new Governor Massoud Ghazi was also present during above mentioned Wolesi Jirga session. Farnod had fraudulently received in loan $504 million Ferozi $66.9m, Fahim $78m, Mahmood Karzai $22m, Habibi $39.7m, Dawi $37m, Ibrahim $9m, Sofi Nisar $14m and Zahir $11m, Ghazi informed lawmakers.
About 200 people are said to have received loans from the private bank. Parliamentarian Shukriya Barakzai said 103 out of the 200 defaulters, included MPs and cabinet members. She insisted names of all loanees be revealed.
Central Bank Governor Abdul Qadir Fitrat on 30 April 2011 briefed the Meshrano Jirga Economic Committee
on government’s efforts to dissolve Kabul Bank as well as recover funds from debtors. In his briefing, Mr.
Fitrat informed members that the government has developed a two-step process in closing down the
troubled bank and recovering funds used to bail out Kabul Bank in 2010.
“The first stage will involve disposing of assets, equipment and staff. The second stage will entail
dissolving the bank through dealing with the bank’s debts,” Mr. Fitrat said. He further informed the
committee that the government will take possession of a building owned by Sherkhan Farnood valued at
$35.3 million USD to recover unpaid loans. “Gul Bahar has agreed to pay back the $17 million USD loan
extended to him with interest. He will pay back a total of $39 million USD while Mr. Dawi will pay $37
million USD to cover the $26 million USD he borrowed plus interest,” said Mr. Fitrat.
Documents obtained by Hasht-e-Subh Daily shows that the Da Afghanistan Central Bank in the middle of 2010 was informed that Kabul Bank was completely moving towards bankruptcy and that its shareholders issued all the capital of the bank as illegal loans and to run illegal businesses. But the head of the Central Bank, Abdul Qadir Fitrat, only relied on removing Sheer Khan, Head of Kabul Bank, and his Deputy Khalilullah Ferozi. (20110530) Also the mafia, connected to Kabul Bank, has threatened to attack Finance Minister Zakhilwal, which made him move his family abroad (20110528).