InfoAnda - Afghans crowd scandal-hit bank to withdraw savings

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Keeping up with the Kim Kardashian wedding tweets | 4 November 2011
Report: Morgan, Mitsubishi UFJ to merge brokerages | 11 February 2009
All Blacks gear for 'huge' Springboks battle | 16 July 2010

Israel picks U.S. immigrant for new Washington envoy | International | | 3 May 2009

Forum Views () Forum Replies ()

Read more with google mobile : Afghans crowd scandal-hit bank to withdraw savings

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Afghans crowd scandal-hit bank to withdraw savings AFP - Sunday, September 5 Send IM Story Print KABUL (AFP) - – Afghan officials sought Saturday to head off a run on the country's biggest bank, reassuring customers of Kabul Bank that their money was safe following corruption allegations in US newspapers. Branches of Kabul Bank across the country were crowded as anxious depositors joined hundreds of thousands of government employees queuing to collect their salaries, which were being paid through the bank on Saturday. The privately-owned bank has been the subject of reports alleging large-scale corruption by executives, though the government and central bank have said it is solvent and there is no need for customers to panic. Banks were closed on Friday for the weekly holiday, providing respite after a day of mild panic following the reports, which saw the Washington Post say the Kabul Bank had been taken over by the central bank. The governor of Afghanistan's central bank, Adbul Qadir Fitrat, said the bank had not been taken over and along with the finance minister reassured depositors their money was secure. US newspapers, including the New York Times and the Wall Street Journal, reported on Wednesday that the central bank had replaced the bank's two top executives -- chief executive Khalilullah Ferozi and chairman Sher Khan Farnud -- and ordered Farnud to hand over 160 million dollars' worth of luxury property purchased in Dubai for himself and for cronies. Fitrat denied the reports, saying the men had resigned voluntarily as new regulations did not permit shareholders to hold executive positions. Finance Minister Hazrat Omar Zakhailwal reassured Kabul Bank customers the institution was solvent, saying the administration of President Hamid Karzai gave its full backing and cash was being delivered to branches nationwide. He said 100 million dollars had been deposited in the bank to cover government salaries, which were due to be paid Saturday to police, army, teachers and many other civil servants. The US newspaper reports said a cash crisis at the bank could undermine the stability of Afghanistan's financial system and efforts to quell a nine-year-old Taliban-led insurgency. On Saturday, the Washington Post quoted Ferozi as saying he had warned Afghan officials that a change of senior bank personnel could be destabilising. Finance ministry spokesman Aziz Shams told AFP: "A change in the leadership of the bank is a normal thing. The government of Afghanistan has always supported the private sector, including private banks. "People are always chasing rumours and speculation," he said, referring to the reports. "There is no real problem in this bank. We support the bank and we are not concerned that it will collapse." The deputy commander of NATO's International Security Assistance Force (ISAF), Lieutenant General Nick Parker, said Afghan and foreign forces were prepared for any potential security threat that might arise from the bank's troubles. "We have to be ready to react to a security situation," Parker told reporters. Crowds thronged Kabul Bank branches in the capital, in eastern Herat, southern Kandahar and northern Mazar-I-Sharif cities on Saturday, many simply wishing to withdraw money ahead of the upcoming Eid holiday. Eid marks the end of the fasting month of Ramadan, when Muslims buy gifts, clothes and special foods to celebrate with their families. Mohammad, a 35-year-old doctor, said he came to withdraw 800 dollars from his savings of 2,500 dollars at Kabul Bank's main branch in the capital "because Eid is approaching and I need the cash". "I don't believe the bank will go bankrupt," he said. By contrast, 22-year-old Waheed, after waiting in line at a Herat branch for two hours, said: "Kabul Bank has lost the trust of the people, I heard from the news that even the chairman resigned so everyone is concerned. "I am pulling my money out of the bank." The Washington Post said on Friday that the US Treasury Department had despatched a team to Kabul to help deal with the crisis, and said that a brother of the president had called for Washington's intervention. The US embassy did not answer queries. Recommend Send IM Story Print Related Articles Obama says his economic policies halted "bleeding" Reuters - 2 hours 24 minutes ago India's Tata Steel may seek $5.4-bln loan: report AFP - Sunday, September 5 FEATURE-Cargo ship embarks on historic Arctic passage Reuters - Sunday, September 5 Two dead in fresh clash over rebel Caucasus region Reuters - Sunday, September 5 Afghans crowd scandal-hit bank to withdraw savings AFP - Sunday, September 5 News Search Top Stories EU deal to curb speculative trading close: commissioner EU decision on support for banks due November: commissioner Afghans crowd scandal-hit bank to withdraw savings BP spill costs hit 8 bln dlrs as crews unearth clues Petrobras sells 64 bln dlrs of stock to fund oil search More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Zeta-Jones 'furious' at late cancer diagnosis for Douglas BP spill costs hit 8 bln dlrs as crews unearth clues Israeli researchers develop promising new HIV treatment 'Prostitute' Carla Bruni deserves death: Iran media Fidel Castro leads first mass rally in four years More Most Viewed » Earth's upper atmosphere shrinking, scientists say Tiger's ex breaks her silence on sex scandal Most US students think Beethoven is a dog Unchecked migration would see Singapore swell, Haiti halve More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Sunday, 5 September 2010
France protests against security crackdown
Texas probing Google over search results
EU deal to curb speculative trading close: commissioner
Protestors in Ireland pelt Blair at book signing
Blair pelted with eggs at Dublin book signing |
Pakistan try to focus after police grill trio
EU decision on support for banks due November: commissioner
Most Greeks want government reshuffle amid crisis |
Earl socks Canada's Nova Scotia, weakens to tropical storm
Hurricane Earl makes landfall in Canada
Muslims take to Minn. State Fair to repair image
Amnesty calls for India Maoists to free police
Japan beat Paraguay to avenge World Cup defeat
Craigslist.com blocks access to adult services ads |
Scorsese film defends anti-communist informer Kazan
India's Tata Steel may seek $5.4-bln loan: report
Afghans crowd scandal-hit bank to withdraw savings
India clears plane order for low-cost carriers
FACTBOX-Key political risks to watch in New Zealand
Vietnam arrests 4 more executives of shipbuilder
U.S. comedian Robert Schimmel dies after car accident |
Taliban death threats hang over Afghan elections
Gales, aftershocks shake quake hit New Zealand city |
Berlusconi backs down on key measure
US-TECH Summary
US likely to keep troops in Iraq after 2011
Suicide bomber kills five in southern Russia |
'Relief' as Wilders-backed Dutch coalition fails
Sharapova, Federer battle on in US tennis Open
Craigslist.com blocks access to adult services ads
Gaza rocket fire draws Israeli air strikes
Thousands protest French clampdown against Roma |
Craigslist 'censors' adult services listings in US
Torrential rains kill 18 in Guatemala |
Six killed in Darfur camp shootout
Over one million join Apple's music social network Ping
Afghans continue pulling money from troubled bank
Belgium back in crisis as mediator quits |
Possible talks with Afghan insurgents draw closer
Craiglist Blocks U.S. Access To Controversial Adult Ads
Two die in mid-air light aircraft collision in UK |
Gales, aftershocks shake quake hit New Zealand city
Abbott makes plea in Australia political impasse
Earl loses tropical storm status after soaking Canada
Typhoon delays US-S.Korea naval exercise
For US Muslims, a 9/11 anniversary like no other
Thousands of Japanese schools serving whale meat
JetBlue: Flight attendant's big exit was for good
Cholera outbreak 'covered up' in China
Thai villagers voice health fears over pollution
Deneuve, Depardieu at Venice filmfest
Indonesian fashion scores Ramadan hit
US-ENTERTAINMENT Summary
New Zealand tourist plane crash dead identified
U.S. comedian Robert Schimmel dies after car accident
Builders race to finish first S.Korea F1 track
N.Zealand braces for more destruction after quake
Booming China auto industry faces over-capacity
iPhone 4 sales in S.Korea start this week
Suzuki to build new auto plant in India
Twelve killed in suicide assault on Iraq army base
ETA declares ceasefire in struggle with Spain
Basque separatists ETA halting armed attacks |
Mideast talks to resume in Egyptian Red Sea resort
Five killed, scores hurt in Dagestan suicide bombing
Bangladesh issues red alert over spread of anthrax |
A month on, Chile miners face uncertain rescue date
Basque separatists ETA declare ceasefire: BBC
Twelve killed in suicide assault on Iraq army base |
Suicide attack kills 12 at Baghdad army complex
Israel's Barak to make 24-hour visit to Russia
Taliban vow to disrupt Afghanistan election |
New Farmlands Driving Out Forests Causes Climate Change Study Says
Troubled Afghan bank faces further day of queues
Philippine police chief takes blame for bus hijack |
NATO service member killed in Afghan fighting
Mideast talks to resume in Egyptian Red Sea resort |
Moldova holds referendum on presidential vote |
Fresh 'fixing' claims cloud Pakistan-England match
Nepal's parliament again fails to elect new PM
Afghan governor says kidnapped Japan journalist freed
Philippines needs more time for deadly bus hijack probe
Philippine police chief takes blame for bus hijack
Bangladesh dams to reclaim 600 square kms of land
Floodwaters sweep towards another Pakistani town
Three Abu Sayyaf militants killed in Philippines: police
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01