The Frieda Madjid Zabuli Foundation
The Frieda Madjid Zabuli Foundation was founded in honor of the late Abdul Madjid Zabuli, founder of the modern Afghan state. Mr. Zabuli was Minister of Economy and Finance for two decades, during which time he pioneered the modern economy of Afghanistan and developed a nationwide banking system. Mr. Zabuli understood that education could not only transform one life but could bring hope and needed change to Afghanistan. The Zabuli Foundation supports important work around the globe under the direction of Frieda Madjid, the widow of Abdul Madjid Zabuli (in group photo at far left, black scarf).
In 1932, Mr. Zabuli founded the Ashami Company, which became the Afghan National Bank (also known as Bank-i-Milli Afghanistan, the first bank to be established in an Islamic country) with branches in major global financial hubs. Other Afghan banks soon followed thanks to Mr. Zabuli’s efforts and influence, including Da Afghanistan Bank. The banking sector fueled the establishment of a number of manufacturing and export-driven businesses, many of which are still trading today. Mr. Zabuli also developed basic industries from sugar to cotton and textiles, which led to exportation and Afghanistan’s ability to compete in global markets. He remained active in business and politics until his death in November 1998.
