A number of Afghan businesspeople have purchased expensive villas in Dubai, once only attractive as a golfer's paradise. These include a brother and a cousin of Afghan President Hamid Karzai, one of Karzai's former vice presidents and the brother of Mohammad Qasim Fahim, one of the country's two current vice presidents. Asking prices for the stylish, Roman-style houses built along the beaches of the man-made island Palm Jumeirah, for example, start at $2 million. Until just a few years ago, many of their current inhabitants were far from wealthy.
As the Washington Post has discovered, these properties are often only registered under the names of the individuals issuing the loans, such as Sherkhan Farnood, the founder and chairman of Kabul Bank, Afghanistan's largest private bank, who was also a key supporter of President Karzai during his 2009 re-election campaign. Like many of his clients, Farnood now spends the majority of his time in Dubai. And among the 16 shareholders in his bank are Mahmoud Karzai, the president's business-minded older brother, and Haseen Fahim, the brother of Afghan Vice President Mohammad Qasim Fahim.
Most financial transactions in Afghanistan continue to be conducted through so-called "hawalas," traditional Islamic money-transferring outfits based more on honor and good faith than receipts, a fact that makes it more or less impossible for Western corruption investigators to trace the flow of money.
Michael Steele, head of the RNC recently suggested we get out of Afghanistan. For this heresy he has been lambasted by the GOP and has been asked to resign. Maybe for once, he might actually be right.
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