Introduction of Banke Millie Afghan:

Banke Millie Afghan is the first bank in Afghanistan which established in 1933 (1312 Solar Year) and for along period had the responsibility to proceed the Central Bank affaires until the central Bank (Da Afghanistan Bank) established in 1939.The bank was established on initial investment assets of Afs. 6.9 Million that (72%) was related to private sector and (28%) belongs to the government. It was fully nationalized by the government in 1976 (1355 Solar Year).From the beginning BANKE MILLIE AFGHAN basically works for development in the field of trades, commercial industrial and agricultures, it is equipped with all type of possibilities and ready to do its best banking services to its customers and as well as it is enjoyed of national and international fame.According to the Banking law of Afghanistan which was approved by His Excellency Hamid Karzai President of Afghanistan on (27/6/1382) corresponding to (September 17 2004), the existing banks were bound to renew their licenses, Banke Millie Afghan due to its best and financial activities and conditions in past and now after a brief studying by world bank and supervision department of Da Afghanistan Bank (DAB), obtained a new Banking License No. 16301 dated (6.4.1383) corresponding to June 26 2004 from Da Afghanistan Bank (Central Bank of Afghanistan).According to the banking law of Afghanistan, Banke Millie Afghan as a limited Financial Institution was registered in the Afghanistan Investment Support Agency (AISA) and obtained the Investment License No. D-21011 dated 17.8.1383 corresponding to November 7, 2004 from the said institution.According to the banking law of Afghanistan, at present, Banke Millie Afghan has been modified from the governmental Bank into an independent one and being managed by itself now. Interferences of the state administrations in the leadership affairs and daily activities of the Bank are contrary of banking law and supervision of Da Afghanistan Bank.Based on article no 22nd of the banking law, Banke Millie Afghan being lead by the following organs:
1. Shareholders General Assembly as a highest decision making organ.2. Boad of supervisor is responsible of supervising the bank activities.3. Board of Managements as a responsible organ for executing the Bank’s affairs and incharge of daily works of the Bank.4. Audit committee is responsible for accounting control, internal audit and investigations.

China Merchants Bank Vaults into U.S.

The Federal Reserve gave China Merchants Bank the nod on Thursday to open a full-fledged banking branch in New York, becoming the first Chinese bank in 15 years to be granted that privilege. The proposed branch would engage primarily in wholesale deposit-taking, lending, trade finance, and other banking services.
As CFO magazine, the Federal Reserve has been evaluating applications from China Merchants Bank and the Industrial and Commercial Bank of China (ICBC) to open branches in New York. The New York State Banking Department approved China Merchants for the requisite state-level license in August. There has been no reported action on ICBC's bid, but an official of the China Banking Regulatory Commission said Thursday that its U.S. application would be approved "very soon." China Construction Bank Corp. reportedly also plans to apply for U.S. entry.The exclusion of Chinese banks dates to 1991 and the passage of the Foreign Banks Supervision Enhancement Act, which brought greater federal oversight to foreign banks operating in the United States after a number of fraudulent or unsound banking practices were uncovered. Since then, ongoing concerns about the poor quality of Chinese banks' loan portfolios (including excessively large exposure to business loans), the laxity of their risk-management practices, and the inability of the China Banking Regulatory Commission to rein in fraud have prevented any reconsideration.
In approving China Merchants's application, the Federal Reserve highlighted the progress that Chinese banking regulators have made to enhance their anti-money-laundering regime. In addition, the Fed said China Merchants "has put in place policies, procedures, and controls to ensure ongoing compliance with all statutory and regulatory requirements, including designating anti-money laundering officers and conducting employee training at the head office, branch, and sub-branch levels."
The sixth-largest bank in China, with $146 billion in assets, China Merchants is a joint stock bank, which means it has been under less government control. That's in stark contrast to ICBC, which still resembles a government bureaucracy, May Yan, a Moody's banking analyst based in Hong Kong, told CFO in September. China Merchants "knows how to control its risk because it has had to survive on its own," she said. ICBC is still in the early stages of developing its risk-management and corporate-governance practices.
Given their huge capital bases, Chinese banks "eventually will be very significant players," says David Kenny, a partner with Squire, Sanders & Dempsey LP.
The Fed's move may also open the door for talks with China on allowing U.S. and other foreign banks to take larger stakes in China's domestic financial institutions. In recent weeks, Chinese banking officials had pointed to China Merchants's pending application as a roadblock to revising some of its financial-market policies that limit foreign investment. Currently, for example, foreign investors can own only up to a 25 percent stake in Chinese banks.

Special Risks Insurance

TFG Global Insurance Solutions Ltd. has access to underwriters who may be able to offer special risk insurance to clients operating in very risky regions and countries. We can even offer health, evacuation and accidental life and dismemberment coverage in war torn countries in Africa and even Iraq and Afghanistan. If you are operating in Iraq and need coverage, we may be able to search out coverage for you and/or your company's employees. Iraq insurance, while difficult and expensive, is often possible to obtain. We can obtain individual or group plans.
If you are interested in a quote, please copy the following question onto an email and email or fax the answers to our office. The cover can be arranged for short visits of a week or up to a full year. Make sure that when you;please provide as much information about the area you will be travelling to, for how long, purpose etc... along with the amount and types of insurance you require. We will then get back to you with a quote.
Finally, we can also quote on Defense Base Act (DBA), kidnap & ransom, war risk transit & goods coverage and liability insurance plans for companies operating in Iraq and other high risk zones such as Afghanistan. We work with clients around the world, including domestic companies in Iraq.
See
that David Tompkins, president of TFG Global, was featured in.
in MS Word OR COPY THE FOLLOWING TO EMAIL AND SEND TO US AT: info@tfgglobal.com

In Hard Time,Russia Mmoves Reclaim Private Industries

A sinkhole from a mine collapse in 2006 at the operations of Uralkali in Berezniki, Russia.
The Kremlin seems to be exploiting the economic crisis to establish more control over financially weakened industries that it has long coveted.


By ERIC SCHMITT, MARK MAZZETTI and JANE PERLEZ
Lashkar-e-Taiba has gained strength in recent years with the
help of Pakistan’s main spy service, American intelligence officials
say.


By ROBERT F. WORTH
Throngs marched through Mumbai and other cities to condemn
terrorism
and proclaim loyalty to the nation.


By ANTHEE CARASSAVA
Hundreds of youth took to the streets, burning shops and cars
and
clashing with the police in Athens and other Greek cities.
By JANE PERLEZ
The attack on more than 100 trucks carrying supplies for U.S.
troops was the third attack in less than a month.

By KATHERINE ZOEPF and ATHEER KAKAN
A prosecutor working on the case against five Blackwater guards
indicted in connection with a 2007 shooting in Baghdad will be
meeting with victims’ families this week, Iraqi officials said.

By KIRK SEMPLE
The chief of the U.N. mission in Afghanistan said that military
operations should be conducted with more care and cultural
sensitivity.
and Pakistan Is on Hold in Wake of Attacks
By SOMINI SENGUPTA
On India and Pakistan’s long road of rivalry and reconciliation, how long this current tension will last or where it will lead remains unclear.
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