Once upon a time, in a far off country, (begins with Afgh and ends with stan) there was a big bank. The entire government used this bank. This bank holds most of the money that pays all the little people of this far away country.
As in all fairytales, there are bad guys, ogres to us. Well, ogres, one of which may be the brother of the leader of this far away country,
took wagon loads and wagon loads of money to invest in castles in another far away country. (rhymes with you-hi.) Unbeknownst to the ogres, the
castles soon lost their charm and the wagon loads of money became just about worthless.
Will the good fairy come along and bail out the bank that was left with no money because of the ogres?
Who is the good fairy?
Do all fairytales have a good ending?
For details on the fairytale please read the following articles:
Investigators at Kabul Bank have found the institution allegedly made vast loans to its own shareholders and fear much of the money is lost or untraceable, according to reports.
The scale of the potential losses at what was once the showpiece of the country's banking sector will further shake the confidence of international donors weary of alleged corruption in Afghanistan.
Of nearly £650 million lent by Kabul Bank, four-fifths went to a colourful circle of shareholders which includes Mahmoud Karzai, brother of the president, and also a brother of the vice president. The chairman, Sher Khan Farnood, is a world-class poker player.
Money went on questionable business projects, cash donations to political figures and luxurious Dubai property including twelve villas on the Palm Jumeirah development. Most shareholders used loans from the bank to purchase their shares.
Fairy godmother? Are you there? Waving wand....can you see us?