Business

Efforts to return loans from Kabul Bank scandals still continues – AGO

Published

11 years ago

April 12, 2015

Ariana News

Last Updated on: October 25, 2022

Kabul Bank embezzlement case is still under investigation by the Attorney General Office of Afghanistan, Officials.

Baseer Azizi AGO spokesman said that the Attorney General Office of Afghanistan is currently struggling to reimburse millions of dollars being embezzled from the Kabul Bank one of the largest private banks in Afghanistan between 2004 – 2010; while ,senate members accuse the government for neglecting the case.

Azizi said,” We are strongly struggling to return Kabul Bank moneys back, and we could return about $220 million so far. We have blocked the properties of those who have borrowed a large amount of money from the bank and we are also tracking to detain those who have escaped from the country.”

President Ghani issued a decree on his initial days inquiring to re-open the Kabul Bank embezzlement case, and the court soon sentenced the biggest scandals including Ex-Chairman Shir Khan Farnood, and Ex-CEO Khalilullah Ferozi, but the government is still unsuccessful to return moneys back and trial those powerful shareholders who were also involved in Kabul Bank cases.

Most of the scandals escaped out of the country without being trialed.

On the other hand, acting head of the Afghanistan Central Bank warns if the debitors fail to pay their loans they will sell their properties being freezed.

Acting Head of the Afghanistan Central Bank Khan Afzal Hudawal said,” We are trying to collect and return the Kabul Bank moneys, and I would like to warn the loaners once again if they fail to pay their loans we will sell their properties being freezed”.

Lawmakers believe that the government is neglecting the real scandals including ex-finance minister Omar Zakhilwal.

Zalmai Zabuli, the Senate Complaints Commission Chief said,” Investigations on Kabul Bank crisis case are still without any result and it is really concerning. Several documents prove involvement of government high ranking officials in Kabul Bank crisis including ex-finance minister involvement, but the question is why they are not trialing Omar Zakhilwal? Documents prove his involvement in Kabul Bank crisis, but both the government and the judiciary systems are keeping their silent about him.”

Earlier Ex-Kabul Bank Chief Executive Officer accused Mohammad Omar Zakhilwal being involved in Kabul Bank embezzlement crisis during a live court, but Mr. Zakhilwal rejected the accusation saying I haven’t signed anything.

Reported by: Rafi Sediqi

Business

Chief of Jamaat-e-Islami Pakistan calls for reopening of Durand Line crossings

Published

3 days ago

May 25, 2026

Ariana News

Hafiz Naeemur Rehman, chief of Pakistan’s Jamaat-e-Islami Pakistan political party, has called for the immediate reopening of crossings along the disputed Durand Line and the regularisation of trade with Iran, warning that prolonged border restrictions are worsening economic hardship for communities on both sides.

Speaking at a public gathering in Zhob, in Pakistan’s Balochistan province, Rehman said restoring cross-border trade was essential for reviving Pakistan’s struggling economy and reducing pressure on ordinary citizens already grappling with inflation and unemployment.

He proposed the formation of a joint committee made up of tribal elders, business leaders and local representatives to help restore trade, resolve disputes and maintain stability along the border region.

Rehman also called for the establishment of special trade zones along the Durand Line to facilitate legal commerce and create employment opportunities in areas heavily dependent on cross-frontier movement.

The Jamaat-e-Islami leader criticised current management policies, alleging that crossings were being opened selectively for the benefit of a small group of traders while thousands of transport workers, merchants and families continued to suffer financially from the closures.

Major crossings along the Durand Line have remained largely shut since October 11 following intense clashes between Afghan and Pakistani forces and Pakistani airstrikes inside Afghanistan that reportedly killed dozens of people on both sides.

The violence sharply escalated already strained relations between Islamabad and Kabul, with Pakistan accusing Afghanistan-based militants of carrying out cross-border attacks, claims the Afghan authorities have repeatedly denied.

The prolonged restrictions have severely disrupted trade and travel between the two countries, particularly affecting frontier provinces where local economies rely heavily on the movement of goods, fuel and agricultural products.

Traders and transport unions in both Afghanistan and Pakistan have repeatedly warned that continued closures are causing heavy financial losses and worsening shortages in some areas.

Business

Major pharma firms eye investment in Afghanistan

Published

4 days ago

May 24, 2026

Ariana News

Last Updated on: May 25, 2026

Several major international pharmaceutical companies could invest in medicine production in Afghanistan as part of growing cooperation between UN agencies and Afghan authorities, who hope to strengthen the country’s healthcare system.

The development was highlighted during a meeting between Afghanistan’s Minister of Economy, Din Mohammad Hanif, and UNICEF Representative Tajudeen Oyewale, where discussions focused heavily on improving healthcare access and expanding pharmaceutical capacity.

UNICEF officials indicated that several global drug manufacturers are preparing to coordinate with Afghanistan’s Ministry of Public Health on establishing or supporting local medicine production.

The aim is to improve the availability of essential medicines for humanitarian operations while also strengthening supply in domestic markets.

The proposed investments are expected to reduce Afghanistan’s reliance on imported pharmaceuticals and improve access to essential treatments, particularly in areas affected by economic hardship and ongoing humanitarian needs.

Alongside the pharmaceutical plans, UNICEF reaffirmed its continued commitment to humanitarian assistance in Afghanistan, including programmes addressing food insecurity, climate-related pressures, and support for returning migrants.

According to figures discussed in the meeting, $520 million has been requested from international donors to support returnees. Of this, $100 million is allocated for emergency assistance, while $420 million is intended for longer-term resettlement and reintegration support.

Afghan authorities welcomed the prospect of expanded pharmaceutical investment, with Din Mohammad Hanif stressing the importance of development cooperation, job creation, and increased international engagement to support economic stability.

Officials said strengthening the pharmaceutical sector could become a key pillar in Afghanistan’s broader efforts to improve healthcare resilience and move toward greater self-sufficiency in essential medical supplies.

Business

Kazakhstan reports 2.3-fold rise in grain exports to Afghanistan

Published

5 days ago

May 23, 2026

Ariana News

Afghanistan has sharply increased imports of grain from Kazakhstan, with deliveries rising 2.3-fold between September 2025 and May 20, 2026, according to Kazakhstan’s Agriculture Ministry.

During that period, Kazakhstan exported around 3 million tons of grain to Afghanistan, compared to 1.3 million tons in the same period a year earlier.

The increase comes as Afghanistan’s Finance Ministry said this week that wheat imports into the country have risen by 345% following changes in customs tariffs aimed at supporting domestic production. According to the ministry, tariffs on imported wheat flour were gradually increased from 5% to 8%, while duties on wheat imports were reduced to encourage local flour processing.

Officials said nearly 198,000 tons of wheat were imported during the first two months of the 1405 fiscal year, compared to 44,000 tons during the same period last year. The ministry added that the policy has helped expand operations at domestic flour factories, increase local production, and create more job opportunities.