Watch is a Non-Governmental Organization Focused on the Fairness of the Financial Services
Industries - Banking, Insurance and Securities - to Local Communities, Urban and Rural,
North and (Global) South, including under Human
FFW researches, documents and advocates around financial firms' activities, and how
they affect local communities. The profiles below are in-process -- For or with more
information, contact us.
is below - click here.
Agency (as of Feb. 2005, the central bank, Da Afghanistan Bank, has no web site)
Ministry of Foreign Affairs of Afghanistan
Malak Azghar Road
An old address for the central bank:
Da Afghanistan Bank
Ibni Sina Watt
Tel.: ++873-685 05 16 32
Fax: ++875-685 05 16 32
activity is regulated by the Law of the Kyrgyz Republic On Banks and Banking Activity of
July 29, 1997 and the Law of the Kyrgyz Republic On the National Bank of the Kyrgyz
Republic of July 29, 1997. Regulator and central bank:
National Bank of the
Kyrgyz Republic (NBKR)
(and see this description)
101 Umetaliev Str, 720040 Bishkek, Kyrgyzstan
Tel: +996 312 669011, 312 669012 Fax: +996 312 610730
Email: firstname.lastname@example.org; Web: www.nbkr.kg
Centrale de la Republique de Turquie SA
Basel: Bank for International Settlements (BIS)
Brussels: Banque Nationale de Belgique SA
Frankfurt am Main: Deutsche Bank AG
Frankfurt am Main: Deutsche Bundesbank
London: Standard Bank London Ltd
New York: Citibank NA
New York: Deutsche Bank Trust Company
New York: Federal Reserve Bank of New York
Tokyo: The Bank of Tokyo-Mitsubishi Ltd
Zuerich: UBS AG
From a September 5, 2002, press release on AFX: Kazkommertsbank
has obtained an approval of the National Bank of Kyrgyz Republic on acquisition of JSC
Kyrgyzavtobank shares equal to 74,37% of its authorized capital. Thereby, Kazakhstan's
largest private bank Kazkommertsbank will become the major shareholder of Kyrgyzavtobank
with a controlling stake for a total of 74,4 million soms ($1.6 million)."
On Feb. 2, 2005, NBKR
announced that there are three representations of credit banks:
Representation of the Mezhgosbank, Russian Promsvyazbank, and TuranAlem"
(this last is Kazakh).
Regulator and central bank:
State Bank of Pakistan
I.I. Chundrigar Road, Karachi, Pakistan.
Phone: (+92-21)-24450298, Fax: (+92-21) 9212440
Regarding service to "unbanked area," the State Bank of Pakistan in October
2004 "decided that, henceforth, every bank should open at least 20% of branches
planned to be opened, under its annual branch expansion plan, in unbanked areas. Banks are
advised to keep this in view while submitting their annual branch expansion plan for year
2005 and onwards. The above instructions will not be applicable to Microfinance Banks,
Islamic Banks, Islamic Banking subsidiaries of existing commercial banks and stand alone
Islamic Banking branches of commercial banks."
The next month, a second exemption was added: the "condition of opening 20%
branches in unbanked areas shall not be applicable in case of bank having 100 or less
Even with these exemptions, the IMF / World Bank in a subsequent 18-page
Technical Note opined that "the newly privatised banks still face several challenges,
including... the maintenance of loss-making branches in the 'unbanked' areas." See,
Business Recorder of May 12, 2005.
Turkmenistan (and Deutsche
President Saparmurat Niyazov is the man who makes the decisions for oil and gas. He
signs the E&P deals or JV agreements with foreign companies.
APS Review Downstream Trends of October 4, 2004 calls his regime "the most
repressive" state in Central Asia --
"The constitution says Turkmenistan is a 'secular democracy' in the form of a
presidential republic. In practice, it is a Niyazovland in which policy is only what the
president decides - a private estate with its income going to the "presidential
fund", now worth over $ 5 bn, which is managed by Deutsche Bank in Frankfurt. Only
Niyazov can use the money. Parliament is dominated by his Democratic Party of
Turkmenistan, the sole political group in the country."
Banking Publications: "The former chairman of the Central Bank of Turkmenistan,
Khudaiberdi Orazov, is under fire from the top prosecutor's office, accused of loan fraud.
A warrant has been issued for his arrest because he has allegedly embezzled $120 million.
He supposedly stole loans from Deutsche Bank."
Excerpts from report by Turkmen TV on October 31, 2000: "Yesterday Turkmen
President Saparmyrat Turkmenbashy received a member of the board of German Deutsche Bank,
Tessen von Heydebreck, who is leading a visiting Deutsche Bank delegation... They talked
about Turkmenistan's economic potential; von Heydebreck praised the country's economic
TASS News Agency of October 30, 2000: "Investments in the oil and natural gas
sector of Turkmenistan are seen as a high priority by the Deutsche Bank, its officials
assured President Saparmurat Niyazov during the course of their meeting in Ashkhabad on
Monday. Niyazov and Deutsche Bank board member Tessen von Heidebraek highly assessed the
fulfilment of the agreement on cooperation between the German Bank and the government of
Turkmenistan signed in 1996 and approved the signing of a new agreement on continued
cooperation. the German Bank and the government of this Central Asian republic will sign a
framework crediting agreement on the funding of the investment projects, including the
supplies of equipment and provision of services."
Commenting on Deutsche Bank's presence in Central and Eastern Europe, ['DB CEO Rolf]
Breuer "emphasized that its longstanding, close relationships with these countries
have been important even during times when the political and economic climate has been
difficult. Deutsche Bank was pleased to accept the challenge to help rebuild the economies
of Central and Eastern Europe. The opening and liberalization of these markets offers
further businesses in which the bank expects to see substantial growth. Deutsche Bank is
currently represented through offices, branches and subsidiaries in Georgia, Kazakhstan,
Croatia, Poland, Russia, Romania, the Czech Republic, Turkmenistan, Ukraine, Hungary and
Uzbekistan. " (Breuer Statement of September 25, 2000)
Location: (per Deutsche
Bank's web site)
Four Points Ak Altin Hotel, Office 210, Magtumguli Ave. 141/1
Tel: (+993) 12363512, 12363514
Fax: (+993) 12363461
Deutsche Bank is, ironically, a member of the UN's Global Compact...
Click here for ICP/FFW's
profile of Deutsche Bank
and see HumanRightsEnforcement.org
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FFW Campaigns In Other Media
researches, documents and advocates around financial firms' activities, and how they
affect local communities. FFW files its findings with tribunals, regulatory agencies, and
elsewhere, including on this Web site . Click here to view analyses of several
multinational financial institutions' effects on consumers and the environment, worldwide:
for two examples, Citigroup and HSBC. Click here for some initial brainstorming on the application
of human rights and international law to the global financial services companies, and for
citations (where possible, links)
to resource material. Click here for some September 2004 campaigns -- PNC/Riggs (Finance Watch Reports of August 16,
2004, onwards), J.P. Morgan Chase,
etc.. Click here for an
ongoing report on the campaign to reform anti-money laundering, tax haven, and bank
secrecy laws. Click here for
the Human Rights Enforcement project,
including its new (9/04) criminal
justice and local human rights project. For or with more information, contact us.
For More information, see:
Human Rights & Finance:
Predatory Lending in a Deregulated Network Economy