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
Father Mirwais Azizi

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, one of the largest commercial banks 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 in 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

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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. Archived from the original on June 29, 2018.
  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

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