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.
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]
As of 2018[update], 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]