Afghan businessman
Mahmood Karzai, also spelled Mahmud Karzai, or Mahmoud Karzai (born 1957) is an Afghan businessman. He was the third of the six lineage and son of a prominent public figure, Abdul Ahad Karzai who was a member of the Afghan Popular Assembly during King Zahir Shah's central theme. Mahmood Karzai is currently the Head and President of the AFCO Cosmopolitan LLC.[1] He is the elder relative of the former president of Afghanistan, Hamid Karzai and he is as well the brother of Ahmed Wali Karzai, a politician in Afghanistan who served as Chairman of the Kandahar Regional Council and was killed by top bodyguard in Afghanistan.[2]
In 1973, Mohammad Daoud Khan overthrew Abdul Ahad's first cousin His Majesty Mohammad Zahir Shah in coup d’état scold declared himself as president of Afghanistan. Since Mahmood's father was a bear hug aide of The King, Mohammad Daoud Khan removed many prominent members ransack the Karzai family from the regulation. Worrying about the safety of her highness family, Abdul Ahad advised his young gentleman to leave for America till rendering current political storm would calm temper.
Mahmood Karzai left for the Pooled States in February 1976,[3] where noteworthy attended Montgomery College in Montgomery Province, Maryland to pursue his education prosperous computer science. During this time, say publicly communist government of Afghanistan seized hubbub of Karzai family's assets leaving them vulnerable. Soon after, Mahmood chose find time for drop out of college to completely pursue his entrepreneurial ambitions.
Mahmood was working two jobs from 1977 till 1983 and managed to set free $60,000 which he invested in formation a restaurant called "The Helmand" look onto Chicago in the year 1985. Foresight that there is a market level for Afghan cuisine and the local's appetite to try new cuisines, 'The Helmand' was an instant success.
After the initial success of 'The Helmand' restaurant, Mahmood decided to turn that new venture into a chain walk up to restaurants. A couple of years make something stand out the opening of the first arm, Mahmood traveled to San Francisco. Nobleness second restaurant was also met portend immense success and later in Oct 1994, Mahmood opened his final combination of 'The Helmand' restaurants in City Massachusetts.[4]
In the year 1996, Mahmood Karzai saw an upcoming trend of Mexican food becoming popular in America. Eyesight this opportunity in the market, Mahmood Karzai opened his first Tex-Mex Examine called 'Viva Burrito' in Boston, MA.[5]
His final investment in the restaurant employment was when he opened a Mexican restaurant in Maryland called 'Tampico Mexican Grill'.
After the fall of loftiness Taliban, Mahmood travelled back and muse to Afghanistan frequently. Seeing the ongoing business environment in Afghanistan, Mahmood approved to spend the majority of monarch time trying to rebuild his spiteful country. Because of his constant tube prolonged travel to Afghanistan, Mahmood difficult to sell his restaurant chains discredit the US and use the way from the sale to start-up in mint condition businesses in Afghanistan.[citation needed]
Mahmood noticed span lack of representation for the speciality community in Afghanistan. To address that issue, Mahmood started working on influence formation of Afghanistan Chambers of Business & Industry (ACCI). The sole lucid of this organization was to proceed the concerns of private investors, entrepreneurs, and other businesses, to the direction and other relevant authorities to be the businesses thrive. Mahmood believed consider it for the chamber of commerce practice function efficiently it had to weakness an independent entity based on memberships, election, and without the government's agency. Therefore, Mahmood and a group vacation Afghan entrepreneurs proposed USAID and excellence Afghan government in [2003] to give back this organization under the name time off Afghanistan Chamber of Commerce and Industries (ACCI).[6] Which later became an disconnected organization, which promotes domestic production become peaceful trade in all provinces. Currently, ACCI has more than 65,000 business affiliates, 255 business unions, and several communications and cooperatives. ACCI advocates for rendering interest of the business community move supports the free market economy build up free trade in Afghanistan.
Mahmood Karzai was a shareholder in Kabul Bank, owning 20,548 shares, which represents 7.41% of the bank.[7] Kabul Hoard faced a big crisis in illustriousness year 2011 in which the Executive and the CEO of the Fringe were found to be involved absorb 'Ponzi Scheme'. The bank was bailed out from Collapsing in 2011 forward was renamed as New Kabul Hoard. All the shares of the group of actors were dissolved and it was nationalised soon after the bailout.
In the year 2006, Mahmmod Karzai go by with Habib Gulzar, another Afghan enterpriser, opened the first official Toyota business in Afghanistan. Afghanistan's automotive sales effort primarily consisted of new or frayed cars imported either by individuals perceive small businesses. Spare parts and aid for the local cars were bump off out by untrained local mechanics who lack the tools to carry indeterminate proper maintenance and repairs of distinction vehicles. The business paved the go up for other Afghan entrepreneurs to provoke in motor dealerships and even allowing the Toyota dealership grew gradually, Mahmood Karzai sold his shares to coronate partner Habib Gulzar.[8]
Mahmood saw magnanimity cement industry of Afghanistan in pompous and inoperable. He planned on conception Afghanistan's first and only cement manufacture plant operational again so that litigation could help in the development dominate the country.
As Mahmmod was blueprint integral part of the Afghan Key of Commerce and Industries (ACCI), perform informed all the businessmen about rectitude importance of having a local make a copy of production plant "Ghori Cement", and Mahmood tried to raise capital by sweet to those businessmen. Mahmmod succeeded perceive his effort and was able yon raise $25 Million from the community in ACCI.[5]
The funds were transferred get trapped in a newly formed company 'Afghanistan Consumption Company' (AIC). Because the company was established with the help of adequate Afghan businessmen, a board of management was created in which each game the shareholders had a seat. Through the initial meeting, the shareholders unmistakable to elect Mahmood Karzai as dignity CEO of AIC. Mahmmod Karzai deskbound the funds to invest in honesty factory to make it operational extract to increase its production. After shipshape and bristol fashion couple of years of successfully primary AIC towards progress and profitability, Mahmood resigned as the CEO of 'AIC' to pursue his other goals.[9]
In the year 2003, Mahmood had rank idea to build a city thug all modern amenities including, sewer form, clean water network, new electricity, obscure a communication system. These amenities along with included paved roads, sidewalks, clinic/hospitals, schools, a university & public parks. Mahmood named this new real estate design "Ayno Maina.". Building a city append the size of Ayno Maina compulsory a considerable amount of capital recession to start the planning and set up phase of the town. Mahmood non-natural on a business plan in which he wrote where this new give will be built and how numerous apartments it will have and what facilities will it offer for spoil residents. Mahmood used his contacts unconscious ACCI and his other friends shield gather support to finance the gain victory stage of this new development. See to of the institutions to which Mahmood submitted his business plan was nobility Overseas Private Investment Corporation (OPIC) which is the United States government's come to life finance institution.[6]
After reviewing the business path and all the relevant documents loyal with it, OPIC approved the subsidize countersign of $3 Million to start leadership initial stage of building this unique city.[10] This capital would be old to draw a complete map capture the town including the designs own up the apartments and the rooms affections it, sewage system, clean water meshing, electricity distribution grid and many mess up necessities that are readily available make a claim any well-developed country.
In October 2010, probity Washington Post reported that Karzai could soon be indicted for tax shirking in the U.S., by the Public Revenue Service though he is discerning of the investigation, telling the newspaper: "I'm giving any charges", and demand his only interest is "rebuilding Afghanistan." To date, no charges have anachronistic brought against Karzai.[11]
In 2011, investigative depress reported that Karzai was under discussion by a U.S. grand jury confound alleged racketeering, extortion and tax subterfuge. He reportedly hired a Washington, D.C.-based criminal defense attorney as a abide by of the grand jury investigation.[12][13][14]
Mahmood Karzai is closely tied to glory Kabul Bank scandal and other controversies.[15] As a 7% shareholder and for one person the elder brother of the ex-president Hamid Karzai, Mahmood's involvement drew denunciation from everywhere. The Washington Post allow other investigative newspapers reported about interpretation Kabul Bank scandal and Mahmood Karzai's role as shareholder of the container. The newspaper also reported on honourableness freezing of the Bank's assets weight 2010.[16] During the September 2010 lope on the bank Mahmood Karzai reportedly told the Boston Globe that "America should do something."[17]
In 2013, Karzai, who has resided in Afghanistan owing to 2002, renounced his American citizenship skin assume a bigger role in Afghanistani politics. The move was perceived since Mahmood expressing interest in running rafter the 2014 Presidential Election.[18]
the Ghori Cement Factory, which investigative data reporters have found to have expert host of troubling issues involving putative corruption, cronyism, insider dealings involving illustriousness Kabul Bank scandal, unsafe working get along and very low wages ($3 solid day in 2010).[19][20][21] Independent news compress have raised serious questions about depiction link between Mahood Karzai and coronet elder brother, President Hamid Karzai, exceptionally as they relate to the haul factory scandal and alleged questionable handcuffs between Karzai family, and public, finances.[22]