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entrepreneurs, and other businesses, to the government and other relevant authorities to make the businesses thrive. Mahmood believed that for the chamber of commerce to function efficiently it had to be an independent entity based on memberships, election, and without the government's intervention. Therefore, Mahmood and a group of Afghan entrepreneurs proposed USAID and the Afghan government in to reestablish this organization under the name of
Afghanistan Chamber of Commerce and Industries (ACCI). Which later became an independent organization, which promotes domestic production and trade in all provinces. Currently, ACCI has more than 65,000 business members, 255 business unions, and several associations and cooperatives. ACCI advocates for the interest of the business community and supports the free market economy and free trade in Afghanistan.
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this new real estate project "Ayno Maina.". Building a city with the size of Ayno Maina required a considerable amount of capital investment to start the planning and design phase of the town. Mahmood worked on a business plan in which he wrote where this new city will be built and how many apartments it will have and what facilities will it offer for its residents. Mahmood used his contacts at ACCI and his other friends to gather support to finance the first stage of this new development. One of the institutions to which
Mahmood submitted his business plan was the Overseas Private Investment Corporation (OPIC) which is the United States government's development finance institution.
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141:, owning 20,548 shares, which represents 7.41% of the bank. Kabul Bank faced a big crisis in the year 2011 in which the Chairman and the CEO of the Bank were found to be involved in 'Ponzi Scheme'. The bank was bailed out from Collapsing in 2011 and was renamed as New Kabul Bank. All the shares of the bank were dissolved and it was nationalised soon after the bailout.
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service for the local cars were carried out by untrained local mechanics who lack the tools to carry out proper maintenance and repairs of the vehicles. The business paved the way for other Afghan entrepreneurs to bring in motor dealerships and even though the Toyota dealership grew gradually, Mahmood Karzai sold his shares to his partner Habib Gulzar.
167:
decided to elect
Mahmood Karzai as the CEO of AIC. Mahmmod Karzai used the funds to invest in the factory to make it operational and to increase its production. After a couple of years of successfully leading AIC towards progress and profitability, Mahmood resigned as the CEO of 'AIC' to pursue his other goals.
162:
As
Mahmmod was an integral part of the Afghan Chamber of Commerce and Industries (ACCI), he informed all the businessmen about the importance of having a local cement production plant "Ghori Cement", and Mahmood tried to raise capital by appealing to those businessmen. Mahmmod succeeded in his effort
119:
After the fall of the
Taliban, Mahmood travelled back and forth to Afghanistan frequently. Seeing the current business environment in Afghanistan, Mahmood decided to spend the majority of his time trying to rebuild his home country. Because of his constant and prolonged travel to Afghanistan, Mahmood
179:
After reviewing the business plan and all the relevant documents attached with it, OPIC approved the finance of $ 3 Million to start the initial stage of building this new city. This capital would be used to draw a complete map of the town including the designs of the apartments and the rooms inside
103:
After the initial success of 'The
Helmand' restaurant, Mahmood decided to turn this new venture into a chain of restaurants. A couple of years after the opening of the first branch, Mahmood traveled to San Francisco. The second restaurant was also met with immense success and later in October 1994,
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Mahmood was working two jobs from 1977 till 1983 and managed to save $ 60,000 which he invested in establishing a restaurant called "The
Helmand" in Chicago in the year 1985. Seeing that there is a market opportunity for Afghan cuisine and the local's appetite to try new cuisines, 'The Helmand' was
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In the year 2003, Mahmood had the idea to build a city with all modern amenities including, sewer lines, clean water network, new electricity, and a communication system. These amenities also included paved roads, sidewalks, clinic/hospitals, schools, a university & public parks. Mahmood named
252:
the Ghori Cement
Factory, which investigative news reporters have found to have a host of troubling issues involving alleged corruption, cronyism, insider dealings involving the Kabul Bank scandal, unsafe working conditions and very low wages ($ 3 per day in 2010). Independent news reporters have
166:
The funds were transferred into a newly formed company 'Afghanistan
Investment Company' (AIC). Because the company was established with the help of some Afghan businessmen, a board of directors was created in which each of the shareholders had a seat. During the initial meeting, the shareholders
73:
first cousin His
Majesty Mohammad Zahir Shah in coup d’état and declared himself as president of Afghanistan. Since Mahmood's father was a close aide of The King, Mohammad Daoud Khan removed many prominent members of the Karzai family from the government. Worrying about the safety of his family,
149:
In the year 2006, Mahmmod Karzai along with Habib Gulzar, another Afghan entrepreneur, opened the first official Toyota dealership in Afghanistan. Afghanistan's automotive sales industry primarily consisted of new or used cars imported either by individuals or small businesses. Spare parts and
128:
Mahmood noticed a lack of representation for the business community in Afghanistan. To address this issue, Mahmood started working on the formation of Afghanistan Chambers of Commerce & Industry (ACCI). The sole purpose of this organization was to forward the concerns of private investors,
207:
In 2011, investigative reporters reported that Karzai was under review by a U.S. grand jury for alleged racketeering, extortion and tax evasion. He reportedly hired a Washington, D.C.-based criminal defense attorney as a result of the grand jury investigation.
85:
to pursue his education in computer science. During this time, the communist government of Afghanistan seized all of Karzai family's assets leaving them vulnerable. Soon after, Mahmood chose to drop out of college to fully pursue his entrepreneurial ambitions.
253:
raised serious questions about the link between Mahood Karzai and his elder brother, President Hamid Karzai, especially as they relate to the cement factory scandal and alleged questionable ties between Karzai family, and public, finances.
243:
In 2013, Karzai, who has resided in Afghanistan since 2002, renounced his American citizenship to assume a bigger role in Afghan politics. The move was perceived as Mahmood expressing interest in running in the 2014 Presidential Election.
224:
and other investigative newspapers reported about the Kabul Bank scandal and Mahmood Karzai's role as shareholder of the bank. The newspaper also reported on the freezing of the Bank's assets in 2010. During the September 2010
158:
Mahmood saw the cement industry of Afghanistan in disarray and inoperable. He planned on making Afghanistan's first and only cement production plant operational again so that it could help in the development of the country.
107:
In the year 1996, Mahmood Karzai saw an upcoming trend of Mexican food becoming popular in America. Seeing this opportunity in the market, Mahmood Karzai opened his first Tex-Mex Grill called 'Viva Burrito' in Boston, MA.
203:
though he is aware of the investigation, telling the newspaper: "I'm giving any charges", and insisting his only interest is "rebuilding Afghanistan." To date, no charges have been brought against Karzai.
549:
824:
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scandal and other controversies. As a 7% shareholder and being the elder brother of the ex-president Hamid Karzai, Mahmood's involvement drew criticism from everywhere.
761:
45:
during King Zahir Shah's time. Mahmood Karzai is currently the Chairman and President of the AFCO International LLC. He is the elder brother of the former president of
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41:(born 1957) is an Afghan businessman. He was the third of the six children and son of a prominent political figure, Abdul Ahad Karzai who was a member of the
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it, sewage system, clean water network, electricity distribution grid and many other necessities that are readily available in any well-developed country.
717:
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57:, a politician in Afghanistan who served as Chairman of the Kandahar Provincial Council and was killed by his bodyguard in Afghanistan.
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His final investment in the restaurant business was when he opened a Mexican restaurant in Maryland called 'Tampico Mexican Grill'.
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Landay, Jonathan, McClatchy News (14 November 2010), "Factory, coal mine show connections matter most in Afghan business"
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341:
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had to sell his restaurant chains in the US and use the funds from the sale to start-up new businesses in Afghanistan.
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Abdul Ahad advised his son to leave for America till the current political storm would calm down.
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Mahmood opened his final chain of 'The Helmand' restaurants in Cambridge Massachusetts.
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762:"Factory, coal mine show connections matter most in Afghan business | McClatchy"
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825:"Karzai Inc: Has Afghanistan's leader turned the country into a family business?"
682:"Officials freeze assets of Kabul Bank shareholders, excepting Karzai's brother"
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reported that Karzai could soon be indicted for tax evasion in the U.S., by the
46:
583:"Mahmoud Karzai being investigated for racketeering, extortion and tax evasion"
462:
217:
138:
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Mahmood Karzai left for the United States in February 1976, where he attended
17:
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A kingdom of their own : the family Karzai and the Afghan disaster
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and was able to raise $ 25 Million from the businessmen in ACCI.
848:
844:
154:
Afghanistan investment company & purchase of "Ghori Cement"
718:"Karzai's brother calls on US to help avert Afghan bank run"
630:"Hamid Karzai's brother under US grand jury investigation"
550:"Afghan government orders all private banks to be audited"
535:
Special Inspector General for Afghanistan Reconstruction
899:
President and Chairman of a transitional administration
716:
Higgins, Andrew; Londono, Ernesto (3 September 2010).
485:"Toyota's Corolla is the people's car in Afghanistan"
655:"Kabul Bank fraud profited elite, leaked audit says"
975:
954:
916:
886:
528:"Private Sector Development and Economic Growth"
124:ACCI (Afghan Chamber of Commerce and Industries)
342:"U.S. investigates Helmand owner, Journal says"
789:"Karzai family's wealth 'fuelling insurgency'"
422:"Another Karzai Forges Afghan Business Empire"
860:
8:
883:
867:
853:
845:
402:: CS1 maint: location missing publisher (
605:"Grand Jury Investigates Karzai Brother"
736:"Karzai Brother Prepares Political Bid"
261:
1078:
395:
216:Mahmood Karzai is closely tied to the
370:Partlow, Joshua (20 September 2016).
7:
1066:
680:Higgins, Andrew (6 September 2010).
415:
413:
365:
363:
235:that "America should do something."
137:Mahmood Karzai was a shareholder in
229:Mahmood Karzai reportedly told the
1164:21st-century Afghan businesspeople
807:"Mahmood Karzai Isn't the Problem"
25:
967:2009 Afghan presidential election
962:2004 Afghan presidential election
941:Cabinet of President Hamid Karzai
936:Foreign relations of Hamid Karzai
548:Ahmad, Sardar (19 October 2010).
1101:
1089:
1077:
1065:
1054:
1053:
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189:IRS (Internal Revenue Service)
53:and he is also the brother of
1:
1139:Former United States citizens
787:Farmer, Ben (7 August 2009).
420:Risen, James (4 March 2009).
740:RadioFreeEurope/RadioLiberty
374:(First ed.). New York.
83:Montgomery County, Maryland
1185:
894:Early life of Hamid Karzai
184:Controversies and scandals
1159:Corruption in Afghanistan
1048:
905:
882:
201:Internal Revenue Service
61:Early life and education
43:Afghan National Assembly
811:The Wall Street Journal
1144:Pashtun businesspeople
946:Assassination attempts
90:Entrepreneurial career
193:In October 2010, the
768:on 28 September 2013
603:Rosenberg, Matthew.
320:"Karzai family tree"
299:www.afghan-bios.info
248:Ghori Cement scandal
239:American citizenship
100:an instant success.
829:www.telegraph.co.uk
793:The Daily Telegraph
687:The Washington Post
634:www.telegraph.co.uk
465:on 15 February 2008
348:. 28 September 2010
222:The Washington Post
67:Mohammad Daoud Khan
1017:Habibullah Karzai
993:Abdul Ahad Karzai
661:. 27 November 2012
562:on 25 January 2013
426:The New York Times
79:Montgomery College
27:Afghan businessman
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1044:
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1036:
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1020:
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1009:Azizullah Karzai
1004:
996:
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887:Life and politics
145:Toyota dealership
55:Ahmed Wali Karzai
16:(Redirected from
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1095:Wikisource texts
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764:. Archived from
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558:. Archived from
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507:afghan-bios.info
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459:www.kabulbank.af
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33:, also spelled
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5:
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1129:Afghan bankers
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1033:Hekmat Karzai
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1001:Mahmud Karzai
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985:Zeenat Karzai
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813:. 1 July 2010.
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322:. 13 July 2011
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39:Mahmoud Karzai
31:Mahmood Karzai
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18:Mahmood Karzai
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1149:Karzai family
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1134:Living people
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35:Mahmud Karzai
32:
19:
1154:Hamid Karzai
1100:
1088:
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1064:
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876:Hamid Karzai
832:. Retrieved
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819:
810:
801:
792:
782:
770:. Retrieved
766:the original
755:
743:. Retrieved
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699:. Retrieved
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663:. Retrieved
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637:. Retrieved
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564:. Retrieved
560:the original
553:
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510:. Retrieved
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497:
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467:. Retrieved
463:the original
458:
455:"Kabul Bank"
449:
437:. Retrieved
425:
371:
350:. Retrieved
345:
336:
324:. Retrieved
314:
302:. Retrieved
298:
289:
277:. Retrieved
273:
264:
251:
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232:Boston Globe
230:
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194:
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178:
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161:
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98:
76:
71:Abdul Ahad's
64:
51:Hamid Karzai
38:
34:
30:
29:
1169:1957 births
931:Second term
115:Afghanistan
47:Afghanistan
1123:Categories
926:First term
918:Presidency
566:5 November
503:"Database"
469:13 January
295:"Database"
257:References
218:Kabul Bank
212:Kabul Bank
171:Ayno Maina
139:Kabul Bank
133:Kabul Bank
69:overthrew
1083:Wikiquote
1003:(brother)
955:Elections
795:. London.
772:26 August
696:0190-8286
434:0362-4331
398:cite book
390:958932687
65:In 1973,
1059:Category
1035:(cousin)
1027:(cousin)
995:(father)
745:20 April
659:BBC News
512:23 April
439:20 April
352:23 April
326:23 April
279:16 April
1071:Commons
1019:(uncle)
1011:(uncle)
95:America
1107:Portal
987:(wife)
977:Family
694:
432:
388:
378:
270:"Home"
834:3 May
701:3 May
665:3 May
639:3 May
614:3 May
588:3 May
531:(PDF)
304:3 May
37:, or
836:2023
774:2013
747:2019
703:2023
692:ISSN
667:2023
641:2023
616:2023
590:2023
568:2010
514:2019
471:2022
441:2019
430:ISSN
404:link
386:OCLC
376:ISBN
354:2019
328:2019
306:2023
281:2019
609:WSJ
555:AFP
81:in
1125::
827:.
809:.
791:.
738:.
720:.
690:.
684:.
657:.
632:.
607:.
552:.
533:.
505:.
487:.
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428:.
424:.
412:^
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396:{{
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Text is available under the Creative Commons Attribution-ShareAlike License. Additional terms may apply.