Sherkhan Farnood

By Abid Ali in Business on September 13th, 2010
Photo by AP

Kabul Bank is a private bank. A monopoly, if you like: the only avenue for government employees to receive their salaries.

A great money making machine. A bank that likes to say its "Touching Hearts, Changing Lives" - it certainly has for its shareholders.

In America’s attempt to break the stranglehold of the informal cash economy, mostly the hawalas - used to transfer vast amounts of money that they fear is driving the insurgency and drugs trade - they've inadvertently created a behemoth on an Afghan scale.

In fact, Western Union is the preferred partner for remittances.

I want to share some numbers with you.