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AGO: $480m Kabul Bank Loans Recovered Yet

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Last Updated on: October 25, 2022

KABULBANK - 17 - 08 - 2015 - SOT - DARI.avi_snapshot_01.08_[2015.08.17_15.20.32]

Out of 277 Kabul Bank loaners Afghan police have arrested 50 loaners yet, senior AGO official said on Monday.

Attorney General Office emphasize that police will soon arrest all the scandals.

The bank collapsed in 2010 after losing almost $ 1bn, many of the bank’s staff were sent to prison but the brothers of former President Hamid Karzai and his vice-president who were also involved, were granted immunity.

KABULBANK - 17 - 08 - 2015 - SOT - DARI.avi_snapshot_00.00_[2015.08.17_15.19.03]President Ghani reopened the Kabul Bank inquiry as his first step in a fight against corruption about ten months ago saying the time for action has come, but recently only nine Kabul Bank shareholders have agreed to pay their debts in a regular interval.

The bank’s founder, Sherkhan Farnood, and ex-CEO Khalilullah Ferozi were jailed for five years after being convicted last year of taking $810m of the $935m stolen.

Eighteen others were also jailed but Karzai’s brothers and one of his vice-presidents escaped prosecution because they had returned stolen funds.

The remaining loaners have denied to provide their debts; therefore, the Attorney General Office have tasked police to arrest all of them.

“Out of 227 debtors only 50 loaners have agreed, we try to arrest the others also in cooperation with police,” Noor Habib Jalal acting head of the Attorney General Office said.

$222 million was returned back to the bank after a special tribunal set up by Afghanistan’s Supreme Court during Hamid Karzai’s era, but after Ghani resumed the investigations the amount jumped to $480 million as final verdict issued on the biggest banking fraud.

“$480 million was returned back to Kabul,” Jalal added.

Integrity Watch Afghanistan (IWA) findings show that the New Kabul Bank loss about $7 million annually and the amount has reached to a deficit of $50 million.

Reported by: Ahmad Farshad Saleh

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Afghanistan’s Chief of Armed Forces underscores readiness and equipment for national defense

The ceremony marked the eighth graduation from the 313 Central Corps Training Center, with 153 soldiers officially completing their training.

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Afghanistan’s Chief of Armed Forces, Fasihuddin Fitrat, has emphasized the vital importance of military readiness and proper equipment.

Speaking at the graduation ceremony of 153 personnel from the 313 Central Corps, Fitrat stressed that preparedness is essential to defend against those who challenge the unity, strength, and honor of the Islamic system and the Afghan people.

He highlighted that even during past sensitive and challenging conditions, the Islamic Emirate maintained fully trained and equipped forces.

The Ministry of Defense reiterated that maintaining readiness and proper armament is both a religious and national duty. Leaders of the Islamic Emirate have historically ensured that their forces remain prepared under all circumstances, the ministry added.

The ceremony marked the eighth graduation from the 313 Central Corps Training Center, with 153 soldiers officially completing their training.

Officials highlighted that the Islamic Emirate continues to prioritize the comprehensive readiness of its forces to counter any potential threats to national security.

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Kazakhstan and Uzbekistan shift to opportunity-focused approach on Afghanistan; regional cooperation highlighted

Esmatullah Ergashev, Uzbekistan’s special representative for Afghanistan, noted that Central Asian countries plan to advance joint projects in Afghanistan and further expand regional cooperation.

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Astana recently hosted an extraordinary meeting of the Regional Contact Group on Afghanistan, bringing together representatives from Kazakhstan, Kyrgyzstan, Uzbekistan, and Tajikistan to discuss regional engagement and cooperation with Afghanistan.

Yerkin Tokumov, Kazakhstan’s special presidential representative for Afghanistan, said the country is moving away from viewing Afghanistan solely as a security concern and is adopting an opportunity-driven approach.

He stressed the importance of strengthening political, economic, trade, and transit ties, highlighting Afghanistan’s role as a strategic bridge between Central and South Asia.

Esmatullah Ergashev, Uzbekistan’s special representative for Afghanistan, noted that Central Asian countries plan to advance joint projects in Afghanistan and further expand regional cooperation.

The meeting underscores a growing consensus among Afghanistan’s neighbors to leverage opportunities for partnership, aiming to foster regional stability, enhance economic integration, and support sustainable development initiatives in the country.

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Da Afghanistan Breshna Sherkat extends electricity import agreement with Iran for 1405

Afghanistan remains heavily dependent on imported electricity, with a significant share of its power supplied by neighboring countries including Iran, Uzbekistan, Turkmenistan, and Tajikistan.

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Da Afghanistan Breshna Sherkat (DABS), Afghanistan’s national power utility, has signed an agreement with Iran to continue importing electricity for the solar year 1405 (2026–2027), as part of efforts to stabilize power supplies amid growing domestic demand.

The agreement was signed during an official visit to Iran by a high-level DABS delegation led by its Chief Executive Officer, Alhaj Mullah Abdul Haq Hamkar.

The delegation held extensive meetings with Iranian energy officials in Tehran, focusing on the extension of existing power purchase arrangements as well as broader cooperation in electricity transmission and infrastructure development.

According to DABS, the discussions also addressed technical coordination, capacity expansion, and the reliability of cross-border electricity transmission lines linking the two countries. The visit was conducted at the invitation of Tavanir, the Iranian state organization responsible for electricity generation, transmission, and distribution.

Afghanistan remains heavily dependent on imported electricity, with a significant share of its power supplied by neighboring countries including Iran, Uzbekistan, Turkmenistan, and Tajikistan.

Domestic power generation covers only a fraction of national demand, particularly during winter months and periods of peak consumption, making long-term import agreements critical for maintaining supply to urban centers and industrial zones.

DABS officials said sustained engagement with regional electricity-exporting countries has helped strengthen energy cooperation and improve procurement planning.

The extension of the agreement with Iran is expected to support energy security, reduce supply disruptions, and provide greater predictability for Afghanistan’s power sector as authorities continue to explore domestic generation and renewable energy projects.

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