Sunday, July 17, 2011 – Acting governor of Afghanistan Central Bank on Saturday said, Aziz Bank, Afghanistan’s second-biggest private financial institution, is not facing crisis.
While speaking before in Afghan House of Representatives, Mr. Mohebullah Safi, acting governor of Afghan Central Bank s assured legislators that the bank is not taking the same path as that of Kabul Bank that nearly collapsed earlier this year.
He was asked by Afghan MPs to shed light on the current situation of Azizi Bank.
A number of Afghan MPs last week claimed that Azizi Bank was facing the same fate as the country’s biggest private bank, Kabul Bank.
Afghanistan’s biggest private financial organization, Kabul Bank almost collapsed after the bank sank into crisis, because of mismanagement and illegal loans.
Mr. Safi further added, Azizi Bank have not been in crisis in the past and will not be facing any crisis in the future as well.
He said, the bank is having $588 million in reserves which are safe.
Mr. Saif said, “Central of Afghanistan is investigating the issue Azizi Bank not only for an individual but for the whole nation.”
But a number of Afghan MPs expressed doubt about Mr. Safi’s remarks.
“I need your cooperation regarding the Azizi Bank. We all know that many Afghans are illiterate and have accounts in banks and we shouldn’t panic them, which could damage our national interest.”
In the meantime, Mr. Safi called upon the Afghan MPs to cooperate with Central Bank of Afghanistan regarding Azizi Bank.
He also sought amendments amendments in the country’s banking laws and requested to allow the Central bank to monitor investments made by Afghan Banks and their shareholders both domestically and abroad.
