Financial Disputes Resolution Commission (FDRC)
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Central Bank of Afghanistan

 

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Phone: +93 (0) 202510614
Office line: Available Saturday to Wednesday from 9:00 am to 4:00 pm.
Address: Dehmazang Square, Behind Russian Cultural Center, Kabul Afghanistan.
 


Announcement


A petition number 652-427 dated 24/9/1388 filed by the Da Afghanistan Bank (DAB) in accordance with sub Article (1) Article 65 of the Banking Law for opening bankruptcy proceedings against Development Bank of Afghanistan, was granted by Financial Disputes Resolution Commission (FDRC) and the bank is declared bankrupt. The Commission has appointed Muhammad Abdul Aziz Mahjor as receiver of the Development Bank of Afghanistan. The decision of the Commission opening bankruptcy proceeding against Development Bank of Afghanistan shall take effects immediately.

As a result of the Bankruptcy decision:

1-  Acts performed by or on behalf of the bank after the bankruptcy decision takes effect are legally void and unenforceable, except for acts performed by or by the authority of the receiver for the bank and acts deemed beneficial to the estate of the bank by the receiver and ratified by the receiver;

2-  All current court proceeding against the bank are stayed, and no court proceeding against the bank shall commence after the bankruptcy decision takes effects, except with the leave of the Commission and to subject to such terms and as the Commission imposes;

3- All conservatory attachments and attachments in aid of execution resting on the assets of the bank are lifted………

4- Neither interest nor any other charge shall accrue on liabilities of the bank after this decision.

5- Transfer of shares of the bank after the this decision will have takes effects, except for transfer made with the prior approval of the Commission, shall be void, and

6- All legal acts of the Development Bank of Afghanistan that are done within ninety days before the time of the decision shall upon the application of the receiver be declared null and void by the Commission of the bank and the counter party in the act knew or could have known at the time of the act that act would damage the interest of the creditors of the bank. Such knowledge shall be presumed whenever the consists of acts mentioned in Banking law Sub-article seven.

Except as provided in Article 81, paragraph 1 and 2, claims on Development Bank of Afghanistan must be registered with the Receiver of DBA, Muhammad Abdul Aziz Mahjor, in writing within sixty days from the date of this announcement. This period can be extended by thirty days by the Commission on the grounds of equity. For more information or any question, contact receiver of Development Bank of Afghanistan Muhammad Abdul Aziz Mahjor at:

 

Address: Dehmazang Square, Behind Russian Cultural Center, Kabul Afghanistan.

Telephone: 0202510614

Email: firoz_af@yahoo.com


 

Announcement

Date:   30/1/1390

 

A petition number 24-21 dated 21/1/1390 filed by the Da Afghanistan Bank (DAB) in accordance with sub Article (1) Article 65 of the Banking Law for opening bankruptcy proceedings against  Kabul Bank, was granted by  Financial Disputes Resolution Commission (FDRC) and the bank is declared bankrupt. The Commission has appointed Nisar Yusofzay as receiver of the Kabul Bank. The decision of the Commission opening bankruptcy proceeding against Kabul bank shall take effects immediately.

As a result of the Bankruptcy decision:

1-  Acts performed by or on behalf of the bank after the bankruptcy decision takes effect are legally void and unenforceable, except for acts performed by or by the authority of the receiver for the bank and acts deemed beneficial to the estate of the bank by the receiver and ratified by the receiver;

2-  All current court proceeding against the bank are stayed, and no court proceeding against the bank shall commence after the bankruptcy decision takes effects, except with the leave of the Commission and to subject to such terms and as the Commission imposes;

3-  All conservatory attachments and attachments in aid of execution resting on the assets of the bank are lifted………

4-  Neither interest nor any other charge shall accrue on liabilities of the bank after this decision.

5-  Transfer of shares of the bank after the this decision will have takes effects, except for transfer made with the prior approval of the Commission, shall be void, and

6-  All legal acts of the Kabul bank that are done within ninety days before the time of the decision shall upon the application of the receiver be declared null and void by the Commission of the bank and the counter party in the act knew or could have known at the time of the act that act would damage the interest of the creditors of the bank. such knowledge shall be presumed whenever the consists of acts mentioned in Banking law Sub-article seven.

Except as provided in Article 81, paragraph 1 and 2, claims on Kabul bank must be registered with the Receiver of Kabul bank, Nisar Yosofzay, in writing within sixty days from the date of this announcement. This period can be extended by thirty days by the Commission on the grounds of equity. For more information or any question, contact receiver of Kabul bank Nisar  Yusofzay at:

 

Address: Dehmazang Square, Behind Russian Cultural Center, Kabul Afghanistan.

Telephone: 0202510614

Email: firoz_af@yahoo.com