Azizi Bank

Last updated
Azizi Bank
Native name
‍عزیزی بانک
Company type Private
FoundedJune 2006
Headquarters Wazir Akbar Khan,
Kabul
,
Afghanistan
Key people
 Mirwais Azizi
Number of employees
1,326 [1]
Website www.azizibank.af

Azizi Bank is one of the largest commercial banks in Afghanistan. It has 56 branches including extension counters and around 88 automated teller machines across Afghanistan. [1] The bank opened on June 13, 2006, and is headquartered in the Wazir Akbar Khan neighborhood of Kabul, Afghanistan. [2] Mirwais Azizi is the founder and chairman of the bank.

Contents

Azizi Bank currently has around 1,326 employees, 12% of whom are females. [1] [3] During the 2021 Taliban offensive, some members of the Taliban escorted female employees of Azizi Bank in Kandahar and ordered them not to return to work. [4]

Farhad Azizi

Farhad Azizi
Born1982 (age 41–42)
Afghanistan
Education University of Tulsa, Suffolk University in Boston
Occupation(s) businessman, investor and entrepreneur
Known forChairman and owner of Azizi Bank
Parent

Farhad Azizi is a UAE based businessman, [5] [6] billionaire, investor, entrepreneur and the CEO of Azizi developments. [7] [8] He is the chairman of Azizi Bank, the largest commercial bank in Afghanistan, [9] [10] which he established in 2006 with $7.5 million in equity capital and has since reached up to $80 million. [11] [12] [13] He is the CEO of Azizi Group of companies which was founded in 1989 with a presence in realty, banking, investment, and hospitality. [14]

As of 2018, he was arguably the richest person and family of Afghani origin. He featured in the list of "Arabian Business as one of the 100 Inspiring leaders in the Middle East" in March 2018. [15] [16] He is regarded as one of the richest people of Afghanistan with a monopoly in petroleum products. [17] [18] Azizi Developments is a Dubai-based property developer. [19] [20] [21] [22]

Early life

After moving from Afghanistan to Dubai as a young boy along with his father Mirwais Azizi, they founded the Azizi Group in 1989. [23] [5] [24]

A graduate of the University of Tulsa, Azizi obtained an MBA in finance management from Boston-Suffolk University. After completing his studies, Farhad spent time in Europe before moving back to the UAE. [25] [26] [27]

Career

In 2007, Azizi Developments was established. In 2006, Azizi Bank was found, now the largest commercial financial institution in Afghanistan. [9] They also acquired Bakhtar Bank (now Islamic Bank of Afghanistan) [28] which is regarded as one of the reputed banks in Afghanistan. [16]

Azizi Developments started selling off-plan properties in Dubai until the global financial crisis struck. The majority of buyers could not continue payments and Azizi instructed that their deposits be handed back. [29]

In 2013, Azizi Developments resumed the construction of projects. Presently, the company has more than 200 projects under various stages of development with a current portfolio Dubai valued over AED 45 billion. [30] His petroleum business Azizi Hotak Group, which was started with an initial investment of $80 million, operates in 10 countries. [31]

Companies

List of companies/organizations owned by Azizi;

See also

Related Research Articles

<span class="mw-page-title-main">Kandahar</span> City in Kandahar Province, Afghanistan

Kandahar is a city in Afghanistan, located in the south of the country on the Arghandab River, at an elevation of 1,010 m (3,310 ft). It is Afghanistan's second largest city after Kabul, with a population of about 614,118. It is the capital of Kandahar Province and the centre of the larger cultural region called Loy Kandahar. Kandahar is the founding city and spiritual center of the Taliban. Despite the capital of Afghanistan being Kabul, where the government administration is based, Kandahar is the seat of power in Afghanistan as the supreme leader and his spiritual advisers are based there. Kandahar has therefore been called the de facto capital of Afghanistan, though the Taliban maintain Kabul is the capital.

<span class="mw-page-title-main">Economy of the United Arab Emirates</span>

The United Arab Emirates is a high-income developing market economy. The UAE's economy is the 3rd largest in the Middle East, with a gross domestic product (GDP) of US$415 billion in 2021-2023.

<span class="mw-page-title-main">Dubai Islands</span> Island in Dubai, United Arab Emirates

The Dubai Islands, formerly known as the Deira Islands are four undeveloped artificial islands off the coast of Deira, Dubai, United Arab Emirates. The project was initially called Palm Deira and was planned to be part of the Palm Islands. As of 2021, little development has taken place on the islands due to the financial crisis of 2007–2008.

City of Arabia is a US$20 billion retail, residential, commercial and entertainment destination lying at the gateway to Dubailand, United Arab Emirates. Some parts of this project are being built.

<span class="mw-page-title-main">Arabtec Holding PJSC</span>

Arabtec Holding PJSC, Dubai's most heavily traded and largest construction group in GCC together with its subsidiaries, provided construction services for residential, commercial, oil and gas, infrastructure, power, facilities management, and property development sectors in the United Arab Emirates and internationally. It operated through Construction; Mechanical, Electrical and Plumbing; Oil & Gas, Infrastructure and Power; and other segments. The company was involved in the construction of high-rise towers, buildings, and residential villas, as well as drainage, electrical, mechanical, and plumbing contracting, and civil and infrastructure construction works. It also engaged in real estate investment, development, leasing, and management activities. In addition, the company manufactured precast panels and steel structures, as well as ready-mixed concrete

<span class="mw-page-title-main">Al Furjan</span> Property development and neighbourhood in Dubai, UAE

Al Furjan is a property development in Jebel Ali, Dubai, United Arab Emirates. Nakheel Properties heads the development and Azizi Developments owns the largest number of residential buildings. It borders Jebel Ali Village and is near Ibn Battuta Mall, the Gardens, and Expo 2020. Homes in Al Furjan are typically built in Al Hejaz, Dubai, or Quortaj styles.

<span class="mw-page-title-main">Saud bin Saqr Al Qasimi</span> Ruler of Ras Al Khaimah

Sheikh Saud bin Saqr Al Qasimi is the current ruler of the Emirate of Ras Al Khaimah, one of the seven emirates of the United Arab Emirates. He became the chief of the ruler’s Emiri court in 1979, the head of the Municipal Council in 1986, and the Crown Prince and Deputy Ruler of the Emirate in June 2003. Then, he officially became the ruler of the Emirate of Ras Al Khaimah in 2010 after his father’s death.

DAMAC Properties is an Emirati property development company, based in Dubai, in the United Arab Emirates. Founded by Hussain Sajwani, it was listed on the Dubai Financial Market in early 2015. The company was delisted in 2022 after it was taken private again; Sajwani, who retained 72% of all shares, purchased the remaining shares for 2.19 billion AED. The company operates internationally.

Mohammed Ibrahim Al Shaibani, is a non-royal government official in Dubai, UAE, currently serving as director general of The Dubai Ruler's Court, a government entity within the Emirate of Dubai.

Abu Dhabi Financial Group (ADFG) is a global investment management group, headquartered in Abu Dhabi.

<span class="mw-page-title-main">Hussain Sajwani</span> Emirati businessman

Hussain Sajwani, is an Emirati billionaire businessman and the founder of the property development company, DAMAC Properties, and his private investment company, DAMAC Group.

Arada is a property development company based in Sharjah, in the United Arab Emirates.

Mirwais Azizi is a Dubai-based Afghan businessman. He is the chairman of Azizi Group of companies, which he founded in 1989 with a presence in realty, banking, investment, and hospitality. He is also the chairman of Azizi Bank, which he established in 2006 in Kabul, Afghanistan, with $7.5 million in equity capital and has since reached up to $80 million.

Faizal Edavalath Kottikollon is a United Arab Emirates-based Indian entrepreneur and philanthropist. He is the founder and chairman of KEF Holdings – a diversified company known for establishing technologically integrated enterprises across multiple industries. He is also Chairman of the Board of Meitra Hospital – an advanced tertiary care hospital in Kozhikode, Kerala.

<span class="mw-page-title-main">Investment Corporation of Dubai</span> Sovereign wealth fund from the United Arab Emirates

Investment Corporation of Dubai is the principal investment arm of the Government of Dubai focused on strengthening Dubai’s economy through long-term value and wealth creation and investing in global opportunities. Established in 2006, ICD manages the Government of Dubai Portfolio of commercial companies and investments. In 2022, ICD reported assets worth $320 billion and revenue of $73 billion. The Dubai-based corporation provides strategic oversight, develops and implements investment strategies and corporate governance policies, and operates in multiple sectors, including oil and gas, transportation, banking, and financial services.

Bal Krishen Rathore is a UAE-based businessman, investor, and entrepreneur of Indian origin and the Chairman and CEO of Century Financial. He was listed in the top 100 inspiring leaders in the UAE by Arabian Business. He has been granted the Golden Visa by the government of UAE in 2021.

<span class="mw-page-title-main">Trojan Construction & Holding Group</span> UAE construction company

The Trojan Construction & Holding Group, is a UAE based construction company headquartered in Abu Dhabi, United Arab Emirates. It was founded in the year 2012 by Eng. Hamad Al Ameri. It is a subsidiary and construction vertical of Alpha Dhabi Holding.

Sobha Group LLC is a GCC based real estate developer headquartered in Dubai. The company was established in 1976 as an interior decoration firm in Oman by Mr P.N.C. Menon. The company is functional in the UAE, Oman, Bahrain, and Brunei. Sobha Group LLC was the subject of a case study at Harvard Business School. It recorded a sales target of US$1 billion in 2021.

Binghatti Holding is an Emirati real estate development company founded in 2008 with its headquarters in Dubai, United Arab Emirates. The company focuses on real estate, hospitality, and construction.

The Emirates Development Bank (EDB) is an Emeriti state-owned financial institution established in 2015 in the United Arab Emirates under the patronage of Sheikh Mansour bin Zayed Al Nahyan, Deputy PM and Minister of Presidential Affairs of UAE.

References

  1. 1 2 3 "Our Profile". Azizi Bank. Retrieved 10 April 2022.
  2. ↑ "Azizi Bank". Afghanistan Banks Association. Retrieved 10 April 2022.
  3. ↑ "Annual Report 2017" (PDF). Azizi Bank. Retrieved 10 April 2022.
  4. ↑ "Afghan female bank employees forced out of jobs as Taliban takes control". Al Arabiya Network. Reuters. 13 August 2021. Retrieved 10 April 2022.
  5. 1 2 "Farhad Azizi: 'Location has always been the key criteria for a property's desirability'". Arabian Business. 10 Aug 2021.
  6. ↑ Rahal, Nabila (18 Mar 2022). "Azizi "under-promises and over-delivers" with 2.7km-long crystal lagoon to be completed ahead of schedule". Arabian Business.
  7. ↑ Thomas, Aby Sam (June 10, 2019). "Follow The Leader: Azizi Developments CEO Farhad Azizi". Entrepreneur.
  8. ↑ "Azizi Developments is finally ready to take on a 'billion-plus mixed-use iconic' project in Dubai: CEO". gulfnews.com. 17 June 2021.
  9. 1 2 Barnard, Lucy (March 30, 2015). "Azizi presses ahead with thousands of apartments in Dubai". The National (Abu Dhabi).
  10. ↑ Schreck, Adam (September 7, 2010). "2nd Afghan bank with Dubai ties defends links". Deseret News.
  11. ↑ Gregson, Jonathan (May 1, 2018). "World's Best Bank Awards 2018: Asia-Pacific". Global Finance.
  12. ↑ "Dubai developer pushes new launch despite supply worries". gulfnews.com. 11 September 2019.
  13. ↑ Writer, Staff (August 29, 2018). "Azizi launches third project in Dubai Healthcare City | UAE News".[ permanent dead link ]
  14. ↑ Halligan, Neil (October 26, 2017). "Build and they will come: Azizi CEO Farhad Azizi". Arabian Business.
  15. ↑ "100 Inspiring Leaders in the Middle East". Arabian Business. 2018. Retrieved 6 August 2018.
  16. 1 2 "100 Inspiring Leaders In The Middle EastMirwais : Azizi". Arabian Business. March 2018.
  17. ↑ Khan, Sarmad (November 22, 2022). "Cityscape 2022: Azizi plans $15bn spending and launch of Dubai's second-tallest tower". The National.
  18. ↑ "Giordano Middle East embarks on ambitious expansion plan". Arab News. November 22, 2022.
  19. ↑ "UAE developer Azizi launches new division to add Dubai retail portfolio". ArabianBusiness. Retrieved 2024-01-23.
  20. ↑ Mansoor, Zainab (December 1, 2019). "Dubai's Azizi Developments orders Tesla's Cybertrucks for customer site visits | UAE News".[ permanent dead link ]
  21. ↑ "Developer Azizi reveals construction rate progress across Dubai projects". ArabianBusiness. Retrieved 2024-01-23.
  22. ↑ "Time to deliver for Aziz Developments". ArabianBusiness. Retrieved 2024-01-23.
  23. ↑ "Power Hour 2021: Farhad Azizi, CEO of Azizi Developments, Ranks 11th". Construction Business News Middle East. September 8, 2022.
  24. ↑ Report, Staff. "Azizi Developments breaks ground at Dubai Healthcare City's Creek Views II". Khaleej Times.
  25. ↑ "Azizi Developments' Park Avenue is now 40% complete". www.tradearabia.com.
  26. ↑ Release, Press. "Azizi Developments' ramps up construction speed at Riviera in MBR City". www.zawya.com.
  27. ↑ Khan, Sarmad (November 10, 2021). "Cityscape 2021: Azizi Developments to spend $2.72bn on new projects in Dubai by 2025". The National.
  28. ↑ Mohammadi, Zarmina (April 25, 2018). "First Islamic Bank In Afghanistan Opens For Business". TOLOnews.
  29. ↑ Halligan, Neil (April 17, 2016). "Time to deliver for Azizi Developments". Arabian Business.
  30. ↑ "UAE's Azizi records $350m home sales at Cityscape". Arabian Business. September 17, 2017.
  31. ↑ Fenton, Suzanne (June 4, 2008). "Azizi Investments plans 55 Dubai projects". Gulf News.

Further reading

Official website

This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.