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The scamming case at an Afghanistan state bank could be in collusion of authorities: Source

27 Jul 2020 The Khaama Press News Agency

The Afghan-born US citizen who was arrested by the Los Angeles police last Wednesday in connection to scamming an Afghan-based bank was not eligible for taking a loan, bank’s US branch head said.

Hekmat Foushanji, the head of the Afghan-American trading company based in the US told Khaama Press that the detainee had taken a loan of USD 10 million for which he was not eligible as he had already a legal issue at one of the casinos in Los Vegas.

Naem ISMAIL is the Vice-President of an investment firm who received a loan of 10 million US dollars from Bank-e-Millie Afghan in 2008 and never paid any interest or returned the money back to the bank.

According to Foushanji, ISMAIL’s liabilities to the Bank-e-Milli Afghan are around USD 16 million dollars which include both the original loan amount plus payable interests.

Foushanji who has been investigating the case for over 3 years by now believes that either the former Bank authorities have approved Naim ISMAIL’s loan as a result of collusion with him or as a result of a negligent act.

Naim ISMAIL who received a large loan from the Bank-e-Millie Afghan 12 years back, had legal issues and was not eligible for loans. Proper investigations were not done about him before giving him the money.

Hekmat Foushanji, the head of Afghan-American trading company told Khaama Press.

Either the bank authorities at that time were involved in this for collusion or it has been a negligent act, Foushanji added.

According to Foushanji, the bank has so far taken two properties of ISMAIL at their custody in Kabul that worths 2.6 million dollars.

We have two properties of Naim ISMAIL in our control which worths 2.6 million dollars and we are hopeful to get the rest after the trial which should be held in the next 4 to 6 weeks time.

he said.

About Bank-e-Milli Afghan (BMA)

Bank-e-Millie Afghan (BMA) was the first financial institution established in Afghanistan in 1933. Similarly, it was the first financial institution that began in a public-private partnership set up with 72 percent share held by the private sector.

As the first bank in Afghanistan, BMA introduced formal banking services to the people and government of Afghanistan. In 1976, it was fully nationalized by the government of Afghanistan.

BMA has 15 city branches in Kabul and 21 provincial branches and equity investments in United States of America and England.

Author
  • The Khaama Press News Agency is the leading and largest English news service for Afghanistan with over 3 million hits a month. Independent authors/columnists and experts are welcome to contribute stories, opinions and editorials. Send stories to [email protected]

Original Link: https://www.khaama.com/the-scamming-case-at-afghanistans-bank-could-be-in-collusion-of-authorities-sources-798796/

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