After Kabul Bank, this is the turn for Azizi Bank

Some Afghan MPs have revealed that Azizi Bank the second largest private bank in Afghanistan is on the edge of collapse. However the Bank executives try to downplay the whole thing. Haji  Zaher Qader on the Sunday session of the parliament said: “On breakfast time, they brought me $1 million and told me Haji Zaher be quiet! but Haji Zaher is not born from the kind of mother who would shut up for  money.”

According to 8 Subh newspaper, Azizi Bank had bought $450 million worth of properties in Dubai before the 2008 recession, now the value of this huge investment has dropped up to 60 percent. Also the real estate investment inside Afghanistan by Azizi’s Onyx Construction Company is widely believed to be fraudulent. The company has allegedly fabricated ownership documents in order to get official permit to build a residential township on a government land in Kabul city.  As Hossain Fahimi, another Afghan MP  has told TOLONews, I also think that “Azizi Bank would face the same fate as the Kabul Bank.”

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