IMF recommends troubled Kabul Bank be wound down
Kabul: The International Monetary Fund is
recommending that Afghanistan`s troubled Kabul Bank be placed
into receivership and then be quickly sold off.
The IMF made the recommendations in a statement late
yesterday, following a visit by fund officials. It says Afghan
authorities should put together a "transparent, credible and
fully financed" plan to settle problems at the country`s
The IMF says placing Kabul Bank into receivership "a
type of bankruptcy" is "the most appropriate mechanism" for
resolving problems at the bank.
Kabul Bank has been hounded by allegations of
mismanagement, cronyism and questionable lending.
Afghanistan`s Central Bank took control in mid-September,
following a run on the lender.
More from India
More from World
More from Sports
More from Entertaiment
- Fateh Ka Fatwa: Is it time to introduce reforms in Muslim laws?
- UP CM Yogi Adityanath takes 50 decisions without single Cabinet meet
- UP CM Yogi Adityanath reviews Gomti riverfront work
- UP CM Yogi Adityanath warns supporters of criminals, mafia
- Legal, illegal slaughterhouses in UP: What you need to know
- Azam Khan demands ban on cow slaughter across India, says Muslims should stop eating beef
- Sunil Grover to return as Dr Mashoor Gulati!
- Asaduddin Owaisi asks Centre to clarify policy on buffalo meat export, Nirmala Sitharaman gives apt reply
- No ban on cow slaughter in three Northeast states if party comes to power next year: BJP
- 'The Kapil Sharma Show' controversy: Sunil Grover opens up, finds all the 'tamasha' very 'entertaining'