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| 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 to establish a joint stock company in its place. This proved unsucessful.<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=0709917163}}</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 Amanulla and had been rejected on religious grounds. However, Zabuli was given permission to establish a joint stock company in its place. This proved unsucessful.<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=0709917163}}</ref> | ||
| ==Political career== | |||
| In 1948 Abdul Majid Zabuli visited Washington in his role as Minister of National Economy. He requested the US provide arms and financial assistance to Afghanistan to allay concerns in Afghanistan regarding possible Soviet agressions following the British withdrawal from India. 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> | |||
| ==References== | ==References== | ||
Revision as of 00:53, 7 January 2011
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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-i-Milli Afghanistan). Until the 1990s, the Bank had seven branches in the Afghan capital of Kabul, and 10 additional provincial branches. It also had offices in Pakistan, Germany, England, and the United States. Other banks Zabuli founded include the Da Afghanistan Bank, and the Industrial 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 Amānullāh Khān, 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 to establish a joint stock company in its place. This proved unsucessful.
Political career
In 1948 Abdul Majid Zabuli visited Washington in his role as Minister of National Economy. He requested the US provide arms and financial assistance to Afghanistan to allay concerns in Afghanistan regarding possible Soviet agressions following the British withdrawal from India. Both these requests were denied.
References
- Abdul Majid Zabuli short bio at Afghanistan Online
- Male, Beverley (1982). Revolutionary Afghanistan: a reappraisal. London: Croom Helm Limited. p. 229. ISBN 0709917163.
- Rasanayagam, Angelo (2007). Afghanistan: A Modern History. London, New York: I.B. Tauris.