Afghan Biographies

Kabul Bank NKB (New Kabul Bank)

Name Kabul Bank NKB (New Kabul Bank)
Ethnic backgr.
Date of birth
Function/Grade Actual Development, Background, New Key Executives Board of
History and Biodata

Shamroz Khan Masjidi, a spokesman for the Ministry of Finance MoF said that New Kabul Bank (NKB) would be integrated with the National Bank of Afghanistan and the technical and legalization works have been underway.(20201919)

The Ministry of Finance officials have also confirmed the New Kabul Bank is set to be merged with the Bank Mili Afghanistan.
According to officials, preliminary work has been done to merge the two banks, and work is underway on its technical and legal aspects. Shamrooz Khan Masjidi, spokesman for the Ministry of Finance, said in an interview with Salam Watandar that the merger of NKB with the BMA is one of the commitments of the Afghan government with the International Monetary Fund.(20200819)

All as of 20160103
Board of Directors
Name :                                            Position :

Mr. Mohammad Aqa Kohistani       Chairman
Board of Supervisor
Name :                                          Designation & Position :

Prof. Sayed Massud                     Supervisory of board, Professor in Kabul University
Prof. Abdul Kabir Karimi               Supervisory of board,Professor in Kabul University

Board of Management

Name :                                        Designation :
Mr. Sayed Jan Saeed                 Acting Chief Executive Officer
Mr. Ahmad Zia Zia                      Deputy Chief Executive Officer
Mr. Shoaib Sheikh                      Chief Finance Officer
Mr. Bahir Ahmad Stanikzay        Acting Chief Operation Officer
Audit Committee

Name :                                        Designation :
Mr. Fahim Reza                          Member of Committee
Mr. Hameed Nooryar                  Member of Committee
Legal Advisor

Mr. Neda Mohammad Nazari    Acting Legal Advisor

Afghanistan is in talks with the International Monetary Fund (IMF) on a new plan to privatize its loss-making New Kabul Bank after two prior attempts failed to find a suitable buyer. A decision was expected after meetings between IMF officials and the new Afghan finance minister in Dubai, treasury chief Alhaj Mohammad Aqa. Authorities initially planned to merge three public banks, Aqa was listing the candidates as Pashtany Bank, the Bank-e-Millie and New Kabul Bank. The IMF mission to Afghanistan operates out of the United Arab Emirates (UAE) after its resident representative in Kabul was killed in an attack last year on a restaurant in the capital. The most recent attempt to sell the bank in December 2013 failed after drawing just two bids, neither of which the Afghan cabinet judged adequate. Britain's Department for International Development (DFID) has backed efforts to privatize the bank, and it has allocated around £1 million to the process so far.(20160508)

The High Economic Council (HEC) ordered Da Afghanistan (central) Bank to take measures for merging the New Kabul Bank into another entity, the Presidential Palace said on Sunday, 08. May 2016.


The New Kabul Bank is still operating at a loss (7.4 million USD in 2013, with an accumulated loss of 46.8 USD million at the end of December 2013 and possibly up to 65 million USD by August 2015).(20151125)

Integrity Watch Afghanistan reported on Saturday, Aug 29, 2015 that the New Kabul Bank has lost USD 65mn in the past six years. The Finance Ministry has not yet commented on the amount of the money lost but has confirmed that the bank is running at a loss. The Afghan government seized Kabul Bank in 2010 and bailed it out at USD 825mn to overcome the crisis that pushed Afghanistan’s banking system to the brink of ruin.(20150831)

Afghan Finance Ministry and the International Monetary Fund (IMF) are holding discussions over the privatization of the loss-making New Kabul Bank. This comes after the Afghan government failed to find a suitable buyer for the bank. In December 2014, Afghan Finance Ministry had proposed to the presidential palace merging of the three national banks of Afghanistan—Bank Millie Afghan, the New Kabul Bank and Pashtanay Bank—and forming one stronger national bank. The IMF has not yet revealed its plans, and they are in the process of evaluating options with the Afghan government and the central bank regarding the state banks.(20150228)

Deputy Attorney General Rahmatulalh Nazari has said the two senior officials, Masood Ghazni and Mohibullah Safi have left the country on the pretext of official leave.

The two officials are accused for being involved in Kabul Bank collapse for taking loans from the bank.(20141013)

According to Kabul Police officials, 14 million AFG, or roughly 250,000 USD, was stolen from a branch of New Kabul Bank in the Baraki area of Kabul city on Sunday night. Preliminary investigations were said to indicate three staff-members of the bank branch were behind the robbery.(20131020)

According to Ministry of Finance (MoF) officials, the New Kabul Bank is running in a loss since the past 4 years. Director of the treasury at the MoF, Mohammad Aqa Kohistani, the New Kabul Bank has faced a loss of USD 560,000 on a daily basis during the current year—an amount that is paid from the government’s budget. (20130904)

The Ministry of Finance 20130903 re-launched the process of privatising the New Kabul Bank. Muhammad Aqa Kohistani, director of treasury at the ministry, promised the bidding process would be transparent. The bids will be published in local and International newspapers. Beginning 20130903, calls for registration (CFR) would close at the end of September 2013. The bids will be opened in the presence of media outlets. On March 6, 2013 the ministry rejected the only bid offered by the local consortium Ali Akbar Zhawandai Consortium MTZ to buy the bank and said it would submit new recommendations to the president. Following an international marketing effort, five bidders had been approved through the Expression of Interest (EoI) stage. According to Kohistani, the MTZ bid had been thrown out because the firm’s plan was not consistent with the current banking system.(20130903)


Ali Akbar Zhawandai Consortium (called MTZ), Forbes and Manhattan, Kru Capital Partners, Afghanistan International Bank and the Amania Group had expressed interest in the bank, but by deadline 20130216 only one -- Ali Akbar Zhawandal Ali Akbar Zhowandai consortium -- had stepped forward, central bank governer Norullah Delawari said.


Five possible bids have come in for New Kabul Bank, the remnant of the Afghan financial institution at the centre of a storm over fraud allegations in the country. At a recent presentation in Dubai, potential buyers of the bank were given information about its current financial state of health, after the collapse of the old Kabul Bank in 2010. A source close to the new bank said one North American lender and four Afghan banks had expressed interest in New Kabul. There is a deadline of next month for possible bidders to come forward. If it remains unsold by the end of 2013, it will be liquidated.

Despite the alleged fraud at the old bank and the disappearance of about US$900 million (Dh3.3 billion) of depositors' cash, the new bank has clean assets, amounting to between $400m and $500m of deposits, as well as property and equipment assets.(20121202)

New Kabul Bank was being put up for sale at a time when $34.9 million of its loan mark-ups have been written off. Bids for the New Kabul Bank’s sell-off would be called in August 2012. (20120616)

Kabul Bank New Key Executives Board of Management

Chief Executive Officer and Member of the Board of Management of New Kabul Bank:
Ghazi Abdul MussaMasood Musa Ghazi, former Da Afghanistan Bank (Afghan Central Bank)

New Kabul Bank’s Chief Executive Officer Massoud Musa Ghazi received a three year’s imprisonment, after being alleged by the Kabul Bank special tribunal for illegal transfer of USD 5.8mn to a bank account of the former chairman of Kabul Bank Sherkhan Farnood. Denying the accusations, Ghazi said the money was transferred to Farnood’s account in Commerzbank of Dubai before he was named the new CEO of the bank.(20130308)

The name of the New Kabul Bank chairman is also included in a list of those accused of involvement in the Kabul Bank crisis sent by the Attorney-General’s Office. However, the New Kabul Bank chairman Masud Khan Musa Ghazi rejected the allegations, claiming that those who stole former Kabul Bank’s money, always threaten him and his teammates. Meanwhile, the head of the special tribunal, Shams-ul-Rahman Shams, said that the Attorney-General’s Office has officially sued the chairman of the new Kabul, accusing him of embezzlement of over US5 millions.(20120702)


Chief Finance Officer and Member of the Board of Management:
P. J. Mathew

Chief Operations Officer and Member of the Board of Management:
Abdul Basir Forugh Forough

Deputy Chief Executive Officer and Member of the Board of Management (all of 20110430):
Mr. Shokrullah Shokran

Chief Audit Officer and Member of the Board of Management:
Raja Gopala Kerishnan

The minister of finance presented the proposal of the ministry on privatization of the New Kabul Bank adopted at the economic committee of the CM on 2/12/1390 and advised that by adopting of required measures and considering the rehabilitation of financial stability in different sections of the bank, necessary measures should be adopted. 
The CM adopted the privatization of the New Kabul Bank in accordance with the accepted international financial norms in conformity with the views expressed by the cabinet members.(20120612)

Last Modified 2020-08-20
Established 2011-04-30