AIRLINK 74.60 Decreased By ▼ -0.65 (-0.86%)
BOP 5.14 Increased By ▲ 0.03 (0.59%)
CNERGY 4.50 Decreased By ▼ -0.10 (-2.17%)
DFML 33.00 Increased By ▲ 0.47 (1.44%)
DGKC 88.90 Decreased By ▼ -1.45 (-1.6%)
FCCL 22.55 Decreased By ▼ -0.43 (-1.87%)
FFBL 32.70 Decreased By ▼ -0.87 (-2.59%)
FFL 9.84 Decreased By ▼ -0.20 (-1.99%)
GGL 10.88 Decreased By ▼ -0.17 (-1.54%)
HBL 115.31 Increased By ▲ 0.41 (0.36%)
HUBC 136.63 Decreased By ▼ -0.71 (-0.52%)
HUMNL 9.97 Increased By ▲ 0.44 (4.62%)
KEL 4.63 Decreased By ▼ -0.03 (-0.64%)
KOSM 4.70 No Change ▼ 0.00 (0%)
MLCF 39.70 Decreased By ▼ -0.84 (-2.07%)
OGDC 138.96 Decreased By ▼ -0.79 (-0.57%)
PAEL 26.89 Decreased By ▼ -0.76 (-2.75%)
PIAA 25.15 Increased By ▲ 0.75 (3.07%)
PIBTL 6.84 Decreased By ▼ -0.08 (-1.16%)
PPL 122.74 Decreased By ▼ -2.56 (-2.04%)
PRL 27.01 Decreased By ▼ -0.54 (-1.96%)
PTC 14.00 Decreased By ▼ -0.15 (-1.06%)
SEARL 59.47 Decreased By ▼ -2.38 (-3.85%)
SNGP 71.15 Decreased By ▼ -1.83 (-2.51%)
SSGC 10.44 Decreased By ▼ -0.15 (-1.42%)
TELE 8.65 Decreased By ▼ -0.13 (-1.48%)
TPLP 11.51 Decreased By ▼ -0.22 (-1.88%)
TRG 65.13 Decreased By ▼ -1.47 (-2.21%)
UNITY 25.80 Increased By ▲ 0.65 (2.58%)
WTL 1.41 Decreased By ▼ -0.03 (-2.08%)
BR100 7,819 Increased By 16.2 (0.21%)
BR30 25,577 Decreased By -238.9 (-0.93%)
KSE100 74,664 Increased By 132.8 (0.18%)
KSE30 24,072 Increased By 117.1 (0.49%)

Kabul-Bank 400KABUL: Afghan President Hamid Karzai was not aware that a major bank now mired in scandal had contributed millions of dollars to his re-election campaign, a spokesman said Thursday.

 

A foreign-funded inquiry on Wednesday reported on how a $900 million fraud ruined the Kabul Bank, how cash was smuggled abroad in airline food trays, and said top politicians dictated who should be prosecuted over the theft.

 

The inquiry did not name Karzai, but hinted that the president himself benefited, saying the bank had "reportedly provided millions of dollars to the campaign of at least one presidential candidate" against central bank advice.

 

Kabul Bank was reported to have been a major donor to Karzai's 2009 re-election campaign, which was itself tainted by fraud and voting irregularities.

 

"The president is not aware (of the payments to his campaign)," presidential spokesman Aimal Faizi told AFP.

 

"He learnt of claims that $20 million was paid to his campaign. This is a lot of money. We will investigate this."

 

The president had specifically told the chairman and CEO of the bank in a meeting at his office that if they were asked to contribute to his campaign they should refuse, Faizi said.

 

The 87-page findings of the inquiry expose a sophisticated network of corruption that saw money smuggled abroad, as well as political interference in criminal proceedings.

 

Critics, including international corruption watchdog Global Witness, point out that the report also reveals an urgent need for international banking reform.

 

Copyright AFP (Agence France-Presse), 2012

Comments

Comments are closed.