Karzai Profited on Kabul Bank Deal     09/08 09:14

   DUBAI, United Arab Emirates (AP) -- Afghan President Hamid Karzai's brother 
says he made at least $800,000 by buying and then reselling a high-end Dubai 
villa using a loan provided by the chairman of the troubled Kabul Bank.

   Mahmood Karzai told The Associated Press on Wednesday that he bought the 
house on the Palm Jumeirah in July 2007 to obtain residency in Dubai.

   He is the third-biggest shareholder in the bank, which faced a bank run last 
week following reports of steep losses tied partly to risky Dubai property 
investments.

   Karzai says the loan and purchase was arranged by former Kabul Bank chairman 
Sherkhan Farnood, but is unsure whether the money came from the bank or from 
Farnood personally.

   Farnood couldn't immediately be reached for comment.


(KA)