The bankruptcy of Kabul Bank is one of the largest examples of the failure of banking operations in the world, according to a report by the Independent Joint Anti-Corruption Monitoring and Evaluation Committee. The Committee was set up with UK and Danish funds and consists of three Afghans and three foreigners.

The report blames the failure of Kabul Bank on its senior officials and politicians, and clearly describes embezzlement and transfer of money from the bank. The report also points to the immunity from persecution of some of the senior officials and politicians involved, and suggests that the failure is a clear example of challenges to the establishment of an efficient government and to the implementation of laws in Afghanistan.

The report is available here.