Misplaced Pages

Abdul Majid Zabuli: Difference between revisions

Article snapshot taken from Wikipedia with creative commons attribution-sharealike license. Give it a read and then ask your questions in the chat. We can research this topic together.
Browse history interactively← Previous editContent deleted Content addedVisualWikitext
Revision as of 10:18, 25 August 2012 editRjwilmsi (talk | contribs)Extended confirmed users, Pending changes reviewers, Rollbackers931,880 editsm →Political career: replaced: late 1940's → late 1940s using AWB (8226)← Previous edit Latest revision as of 18:06, 1 December 2024 edit undoKingEuronIIIGreyjoy (talk | contribs)Extended confirmed users11,303 edits Centenarian category simplification 
(29 intermediate revisions by 21 users not shown)
Line 1: Line 1:
'''Abdul Majid Zabuli''' (August 14, 1896 – November 23, 1998) was the founder of ]'s banking system. He founded the Ashami company in 1932, which eventually became the Afghan National Bank (Bank-i-Milli Afghanistan). '''Abdul Majid Zabuli''' (August 14, 1896 – November 23, 1998) was the founder of ]'s banking system. He founded the Ashami company in 1932, which eventually became the Afghan National Bank (Bank-e-Mili Afghan ).


==Early life and education==
==Personal history==


Zabuli was born in ] in 1896. He was then educated in ] before spending some time in Berlin. ]'s government requested that Zabuli return to Afghanistan to assist with economic affairs of state.<ref name="Amin">{{cite book | title=Modern Afghanistan: a history of struggle and survival | author=Saikal, Amin et al. | year=2006 | publisher=I.B. Tauris & Co ltd | location=London, New York}}</ref> Zabuli was born in Ghazni province, Nawa district, Husain Khail village in 1896. He was then educated in ] before spending some time in Berlin. ]'s government requested that Zabuli return to Afghanistan to assist with economic affairs of the state.<ref name="Amin">{{cite book | title=Modern Afghanistan: a history of struggle and survival | author=Saikal, Amin | year=2006 | publisher=I.B. Tauris & Co ltd | location=London, New York|display-authors=etal}}</ref>


==Early attempts to establish a national bank== ==Early attempts to establish a national bank==


Until 1930, both public and private trade and banking in Afghanistan occurred through financing provided by money bazaars. When trade was disrupted due to a revolt against ], Zabuli suggested the establishment of a national bank. This had been previously suggested by Amanulla and had been rejected on religious grounds. However, Zabuli was given permission by ] to establish a joint stock company in its place. Even though the company was given a monopoly over imports of sugar, petroleum and motor vehicles as well as exports of cotton, karakul and wool it was not a successful venture.<ref name="Revolutionary Afghanistan">{{cite book | title=Revolutionary Afghanistan: a reappraisal | author=Male, Beverley | year=1982 | publisher=Croom Helm Limited | location=London | pages=229 | isbn=0-7099-1716-3}}</ref> Until 1930, both public and private trade and banking in Afghanistan occurred through financing provided by money bazaars. When trade was disrupted due to a revolt against ], Zabuli suggested the establishment of a national bank. This had been previously suggested by Amanullah and had been rejected on religious grounds. However, Zabuli was given permission by ] to establish a joint stock company in its place. Even though the company was given a monopoly over imports of sugar, petroleum and motor vehicles as well as exports of cotton, ] and wool it was not a successful venture.<ref name="Revolutionary Afghanistan">{{cite book | title=Revolutionary Afghanistan: a reappraisal | author=Male, Beverley | year=1982 | publisher=Croom Helm Limited | location=London | pages=229 | isbn=0-7099-1716-3}}</ref>


==Establishment of the Afghan National Bank== ==Establishment of the Afghan National Bank (Bank-e-Mili Afghan)==


In 1931 Abdul Majid Zabuli was able to use the investment capital he had accrued through the cotton trade with ] to establish Afghanistan's first investment bank.<ref name="Arnold">{{cite book | title=Afghanistan's two-party communism: Parcham and Khalq | author=Arnold, Anthony | year=1983 | publisher=Hoover Institution Press | location=Stanford University, Stanford, California, USA}}</ref> While privately owned, the Bank-i-Melli was given power over currency regulation and acted as a de facto government organisation.<ref name="Angelo" /> In 1931, Abdul Majid Zabuli was able to use the investment capital he had accrued through the cotton trade with ] to establish Afghanistan's first investment bank.<ref name="Arnold">{{cite book | title=Afghanistan's two-party communism: Parcham and Khalq | author=Arnold, Anthony | year=1983 | publisher=Hoover Institution Press | location=Stanford University, Stanford, California, USA}}</ref> While privately owned, the Bank-e-Meli Afghan was given power over currency regulation and acted as a de facto government organisation.<ref name="Angelo" /> Abdul Majid Zabuli was the major shareholder of the bank until it was nationalized in 1975 by Afghan President Sardar Daud. Until the bank was nationalized in 1975, Zabuli directed the affairs of the Bank from his residence in Nahant, Massachusetts, U.S.A. and appointed all the executives of the bank and the bank owned enterprises.


==Political career== ==Political career==


Zabuli was a supporter of the Wikh-e-Zalmayan movement which began in 1946. It called for the youth of Afghanistan to work for the common good of their country without recourse to outside interference, the eradication of bribery and oppression, legal rights for women and the furtherance of the national economy.<ref name="Arnold" /> Zabuli was a supporter of the ] movement. It called for the youth of Afghanistan to work for the common good of their country without recourse to outside interference, the eradication of bribery and oppression, legal rights for women and the furtherance of the national economy.<ref name="Arnold" />


In 1948 Abdul Majid Zabuli visited Washington in his role as Minister of National Economy.<ref name=twsJanEib>{{cite news In 1948, Abdul Majid Zabuli visited Washington in his role as Minister of National Economy.<ref name=twsJanEib>
{{cite magazine
|title= Afghan - U.S. Relations |title= Afghan - U.S. Relations
|publisher= ''Foreign Affairs'' |magazine= Foreign Affairs
|quote= Negotiations between Abdul Majid Zabuli and Washington in late 1940s. |quote= Negotiations between Abdul Majid Zabuli and Washington in late 1940s.
⚫ |url= http://www.institute-for-afghan-studies.org/Foreign%20Affairs/Foreign%20Affairs.htm
|date=
⚫ |accessdate= 2010-01-05
⚫ |url= http://www.institute-for-afghan-studies.org/Foreign%20Affairs/Foreign%20Affairs.htm
⚫ |archive-url= https://web.archive.org/web/20100626052636/http://www.institute-for-afghan-studies.org/Foreign%20Affairs/Foreign%20Affairs.htm
⚫ |accessdate= 2010-01-05
|archive-date= 2010-06-26
⚫ }}</ref> He requested that the US provide arms and financial assistance to Afghanistan to allay concerns in Afghanistan regarding possible Soviet aggressions following the ] withdrawal from ].<ref name=twsJanEia>{{cite news
|url-status= dead
⚫ |author= Omar Zakhilwal
⚫ }}
⚫ |title= The Helmand Valley Project
⚫ </ref> He requested that the US provide arms and financial assistance to Afghanistan to allay concerns in Afghanistan regarding possible Soviet aggressions following the ] withdrawal from ].<ref name=twsJanEia>{{cite news
⚫ |publisher= ''Institute for Afghan Studies''
⚫ |author = Omar Zakhilwal
⚫ |quote= In 1949 Abdul Majid Zabuli (the Minister of National Economy) asked the Export-Import Bank (EIB) in Washington D.C. for a $55 million loan. After an initial refusal, the EIB finally approved a $21 million loan.
⚫ |title = The Helmand Valley Project
|date=
⚫ |publisher = Institute for Afghan Studies
⚫ |url= http://www.institute-for-afghan-studies.org/Foreign%20Affairs/us-afghan/helmand_0.htm
⚫ |quote = In 1949 Abdul Majid Zabuli (the Minister of National Economy) asked the Export-Import Bank (EIB) in Washington D.C. for a $55 million loan. After an initial refusal, the EIB finally approved a $21 million loan.
⚫ |accessdate= 2010-01-05
|url = http://www.institute-for-afghan-studies.org/Foreign%20Affairs/us-afghan/helmand_0.htm
⚫ }}</ref> Both these requests were denied.<ref name="Angelo">{{cite book | title=Afghanistan: A Modern History | author=Rasanayagam, Angelo | year=2007 | publisher=I.B. Tauris | location=London, New York}}</ref>
⚫ |accessdate = 2010-01-05
|archive-url = https://web.archive.org/web/20100211000134/http://www.institute-for-afghan-studies.org/Foreign%20Affairs/us-afghan/helmand_0.htm
|archive-date = 2010-02-11
|url-status = dead
⚫ }}</ref> Both these requests were denied.<ref name="Angelo">{{cite book | title=Afghanistan: A Modern History | author=Rasanayagam, Angelo | year=2007 | publisher=I.B. Tauris | location=London, New York}}</ref><ref>], of Afghanistan 2012, S. 456</ref>


==References== ==References==
{{Reflist}} {{Reflist}}


{{Authority control}}
{{Persondata <!-- Metadata: see ]. -->

| NAME = Zabuli, Abdul Majid
| ALTERNATIVE NAMES =
| SHORT DESCRIPTION = Afghan banker
| DATE OF BIRTH = August 14, 1896
| PLACE OF BIRTH =
| DATE OF DEATH = November 23, 1998
| PLACE OF DEATH =
⚫ }}
{{DEFAULTSORT:Zabuli, Abdul Majid}} {{DEFAULTSORT:Zabuli, Abdul Majid}}
] ]
] ]
] ]
] ]
]

Latest revision as of 18:06, 1 December 2024

Abdul Majid Zabuli (August 14, 1896 – November 23, 1998) was the founder of Afghanistan's banking system. He founded the Ashami company in 1932, which eventually became the Afghan National Bank (Bank-e-Mili Afghan ).

Early life and education

Zabuli was born in Ghazni province, Nawa district, Husain Khail village in 1896. He was then educated in Tashkent before spending some time in Berlin. Mohammed Nadir Shah's government requested that Zabuli return to Afghanistan to assist with economic affairs of the state.

Early attempts to establish a national bank

Until 1930, both public and private trade and banking in Afghanistan occurred through financing provided by money bazaars. When trade was disrupted due to a revolt against Amānullāh Khān, Zabuli suggested the establishment of a national bank. This had been previously suggested by Amanullah and had been rejected on religious grounds. However, Zabuli was given permission by Mohammed Nadir Shah to establish a joint stock company in its place. Even though the company was given a monopoly over imports of sugar, petroleum and motor vehicles as well as exports of cotton, karakul and wool it was not a successful venture.

Establishment of the Afghan National Bank (Bank-e-Mili Afghan)

In 1931, Abdul Majid Zabuli was able to use the investment capital he had accrued through the cotton trade with Russia to establish Afghanistan's first investment bank. While privately owned, the Bank-e-Meli Afghan was given power over currency regulation and acted as a de facto government organisation. Abdul Majid Zabuli was the major shareholder of the bank until it was nationalized in 1975 by Afghan President Sardar Daud. Until the bank was nationalized in 1975, Zabuli directed the affairs of the Bank from his residence in Nahant, Massachusetts, U.S.A. and appointed all the executives of the bank and the bank owned enterprises.

Political career

Zabuli was a supporter of the Weekh Zalmian movement. It called for the youth of Afghanistan to work for the common good of their country without recourse to outside interference, the eradication of bribery and oppression, legal rights for women and the furtherance of the national economy.

In 1948, Abdul Majid Zabuli visited Washington in his role as Minister of National Economy. He requested that the US provide arms and financial assistance to Afghanistan to allay concerns in Afghanistan regarding possible Soviet aggressions following the British withdrawal from India. Both these requests were denied.

References

  1. Saikal, Amin; et al. (2006). Modern Afghanistan: a history of struggle and survival. London, New York: I.B. Tauris & Co ltd.
  2. Male, Beverley (1982). Revolutionary Afghanistan: a reappraisal. London: Croom Helm Limited. p. 229. ISBN 0-7099-1716-3.
  3. ^ Arnold, Anthony (1983). Afghanistan's two-party communism: Parcham and Khalq. Stanford University, Stanford, California, USA: Hoover Institution Press.
  4. ^ Rasanayagam, Angelo (2007). Afghanistan: A Modern History. London, New York: I.B. Tauris.
  5. "Afghan - U.S. Relations". Foreign Affairs. Archived from the original on 2010-06-26. Retrieved 2010-01-05. Negotiations between Abdul Majid Zabuli and Washington in late 1940s.
  6. Omar Zakhilwal. "The Helmand Valley Project". Institute for Afghan Studies. Archived from the original on 2010-02-11. Retrieved 2010-01-05. In 1949 Abdul Majid Zabuli (the Minister of National Economy) asked the Export-Import Bank (EIB) in Washington D.C. for a $55 million loan. After an initial refusal, the EIB finally approved a $21 million loan.
  7. Ludwig W. Adamec, Historical Dictionary of Afghanistan 2012, S. 456
Categories: