Afghanistan's Massive Bank Run Is Getting Worse: "Reports of potentially corrupt loans from Afghanistan's largest bank to political insiders, undermining confidence in the banks strength, caused a bank run during the week.
Depositors withdrew $180 million on Wednesday and Thursday according to the Wall Street Journal, and even Saturday the run continued.
WSJ:
Afghans continued pulling money from their country's largest bank Saturday, despite assurances from top officials that the lender, which has deep ties to the administration of President Hamid Karzai, was financially secure.�
Hours after dozens of branches of Kabul Bank closed following the first business day since the Islamic weekend, there was no word from Afghanistan's central bank or the lender's management on how much money had been withdrawn Saturday.
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