Telegraph

Millions of dollars looted from money market (Filed: 14/11/2001)

MILLIONS of dollars were stolen from Afghanistan's main money market as the Taliban pulled out of Kabul, wiping out the life savings of many residents, money changers said yesterday.

"This was all our capital," said Haji Amin Jan Khosti, chief of the Shara-e-Shazada money exchange. "Even the computers, carpets and teapots have gone. This is a crime against Afghanistan, the Afghans and against Islam."

Residents said they also saw armed men robbing the central bank and driving away in cars stuffed with money. A journalist also saw civilians looting the Pakistani embassy in Kabul, taking electric fans, air conditioners and blankets.

Khosti said thieves looted 80 shops in the money market, leaving none untouched and driving away with trucks full of the local currency.

A massive fortune in Afghan terms of around 1.5 million US dollars and 100 million Pakistani rupees (1.6 million dollars), plus unknown amounts of various other currencies, had also disappeared.

"In every shop at least five to 10 million Pakistan rupees has been taken," said Khosti. Another money changer said the market acted as a kind of "unofficial bank".

"People did not trust the government banks because they are not safe. So if people had capital they brought it to us," he said. "I can't tell you how much I lost because it is too painful to talk about," he added.

-- Anonymous, November 13, 2001

Answers

Guess I need to research the "Afghan money market". Seems like their definition doesn't fit the American definition of money market. No surprise there.

-- Anonymous, November 13, 2001

not a surprise.

-- Anonymous, November 13, 2001