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Afghan central bank takes control of Kabulbank

The move comes after suspected irregularities raised concerns over the country's top private financial institution.


September 14, 2010 3:19 by

Afghanistan’s central bank has stepped in to take control of the troubled Kabulbank, its governor said on Tuesday, after suspected irregularities raised concerns over the country’s top private financial institution.

Central Bank Governor Abdul Qadir Fitrat told Reuters investigations had also been started into the dealings of the bank’s top two directors and shareholders, who were told to resign, and a brother of Afghanistan’s First Vice President, Mohammad Qasim Fahim.

(Reporting by Jonathon Burch; Editing by Paul Tait and Ron Popeski)


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