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Black Holes; A Bank Scandal in Afghanistan
Oleh:
[s.n]
Jenis:
Article from Bulletin/Magazine
Dalam koleksi:
The Economist (http://search.proquest.com/) vol. 399 no. 8738 (Jun. 2011)
,
page 35.
Topik:
Bailouts
;
Bank Fraud
Ketersediaan
Perpustakaan Pusat (Semanggi)
Nomor Panggil:
EE29.66
Non-tandon:
1 (dapat dipinjam: 0)
Tandon:
tidak ada
Lihat Detail Induk
Isi artikel
Amid the wasteland that is "Business Bay", one of Dubai's most disastrous property developments, are two enormous holes in the ground. They mark what were to have been the foundations for a pair of 20-floor towers containing luxury flats. Here, $40m belonging to depositors with accounts at Kabul Bank was sunk. The stricken Afghan bank had for years been run as a giant Ponzi scheme for the benefit of powerful shareholders. Last year Afghanistan's central bank spent $820m of its reserves bailing out Kabul Bank. The question now facing the government of President Hamid Karzai is how it will recover the money from these worthless holes in the ground, along with luxury Dubai villas bought at the top of the market, and much else.
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