KABUL (Pajhwok): The Afghan government has decided to privatise the New Kabul Bank (NKB) but its former shareholders could not participate in the privatisation process, an official said on Wednesday.
Once the country’s largest lender, the bank plunged into deep crisis in 2009, when it lost $987 million in fraudulent property deals, massive off-book loans and credit to fake corporations, prompting the government to take over the bank’s affairs and change its name to New Kabul Bank. The government had to finance a bailout of . . .
