Wednesday, November 28, 2012

Embezzlement brought down largest Afghan bank

Nov 27, 2012 by

A new report commissioned by the Afghan Finance Ministry says deliberate deception and systematic failure led to the embezzlement of more than $900mn from Kabul Bank, Afghanistan's largest bank.

The report also says the scandal, which saw a small group of well-connected Afghans become extremely wealthy, will cost the country an estimated five per cent of its GDP.

No comments:

Post a Comment