AIRLINK 74.40 Increased By ▲ 0.15 (0.2%)
BOP 5.05 Decreased By ▼ -0.09 (-1.75%)
CNERGY 4.43 Increased By ▲ 0.01 (0.23%)
DFML 37.36 Increased By ▲ 1.52 (4.24%)
DGKC 88.65 Increased By ▲ 0.65 (0.74%)
FCCL 22.35 Increased By ▲ 0.15 (0.68%)
FFBL 32.75 Increased By ▲ 0.03 (0.09%)
FFL 9.84 Increased By ▲ 0.05 (0.51%)
GGL 10.97 Increased By ▲ 0.17 (1.57%)
HBL 116.05 Increased By ▲ 0.15 (0.13%)
HUBC 135.45 Decreased By ▼ -0.39 (-0.29%)
HUMNL 9.90 Increased By ▲ 0.06 (0.61%)
KEL 4.60 Decreased By ▼ -0.01 (-0.22%)
KOSM 4.81 Increased By ▲ 0.15 (3.22%)
MLCF 40.15 Increased By ▲ 0.27 (0.68%)
OGDC 137.80 Decreased By ▼ -0.10 (-0.07%)
PAEL 26.64 Increased By ▲ 0.21 (0.79%)
PIAA 26.20 Decreased By ▼ -0.08 (-0.3%)
PIBTL 6.79 Increased By ▲ 0.03 (0.44%)
PPL 122.65 Decreased By ▼ -0.25 (-0.2%)
PRL 26.78 Increased By ▲ 0.09 (0.34%)
PTC 14.07 Increased By ▲ 0.07 (0.5%)
SEARL 58.86 Increased By ▲ 0.16 (0.27%)
SNGP 70.49 Increased By ▲ 0.09 (0.13%)
SSGC 10.50 Increased By ▲ 0.14 (1.35%)
TELE 8.60 Increased By ▲ 0.04 (0.47%)
TPLP 11.26 Decreased By ▼ -0.12 (-1.05%)
TRG 64.90 Increased By ▲ 0.67 (1.04%)
UNITY 26.12 Increased By ▲ 0.07 (0.27%)
WTL 1.38 No Change ▼ 0.00 (0%)
BR100 7,847 Increased By 8.7 (0.11%)
BR30 25,474 Increased By 14.5 (0.06%)
KSE100 74,985 Increased By 54 (0.07%)
KSE30 24,165 Increased By 19 (0.08%)

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.