Panama Papers:NAB team directed to expedite inquiry into 435 offshore companies

January 19, 2018 at 6:18 pm

ISLAMABAD: The Chairman of the National Accountability Bureau (NAB), Justice (retd) Javed Iqbal, while reviewing the preliminary inquiry report of 435 offshore companies owned by 435 Pakistanis in Panama and British Virgin Islands, directed to expedite the process of getting information and record from the State Bank of Pakistan (SBP), Security and Exchange Commission of Pakistan (SECP) and Federal Board of Revenue (FBR) sans sustaining any duress.

The NAB chairman on Thursday chaired a meeting to review the preliminary inquiry report of 435 offshore companies owned by Pakistanis in Panama and British Virgin Islands at the NAB headquarters. He directed that the inquiry should be concluded in accordance with merit and in the light of law and evidence.

The offshore companies of former chairman FBR Abdullah Yousaf were also included in the list of offshore companies owned by 435 Pakistanis whose names were leaked in the Panama Papers. The FBR’s ex-chairman owns Green Deal Management, Greenwood Investor while his sons Shahid Abdullah and Shayan Abdullah own Greenwood Investor and Usman Yousaf owns Malboro and six companies of Ameer Abdullah are also included.

The NAB chairman directed officials of the Bureau to get information and record of the offshore companies of other Pakistanis at the earliest and to find reasons for establishing offshore companies, their sources of income including money trail and money transferred abroad through banking channels or money laundering. The NAB chairman further directed the NAB investigation team to find whether the national exchequer had been looted or inflicted heavy damage through corruption.

Leave a Reply

Your email address will not be published. Required fields are marked *

Recent News

Pakistan celebrates 71 years o
ISLAMABAD: The nation celebrated 71st Independence Day today (Tuesday) with traditional fervour and enthusiasm. All major public and private buildings, roads and avenues were decorated with illumin...
August 14, 2018 Read More
President, caretaker PM felici
ISLAMABAD: President Mamnoon Hussain and caretaker Prime Minister Justice (retd) Nasir-ul-Mulk extended heartiest felicitations to all Pakistanis on the occasion of Independence Day. President Mamn...
August 14, 2018 Read More
Imran Khan felicitates Nation
Islamabad : Chairman Pakistan Tehreek-e-Insaf (PTI) Imran Khan on Tuesday felicitated the nation on Independence Day as he vowed to realise Quaid-e-Azam Muhammad Ali Jinnah and Allama Iqbal’s visio
August 14, 2018 Read More
shehbaz demands probe into rig
LAHORE (APP) - Pakistan Muslim League-Nawaz (PML-N) President Shehbaz Sharif Tuesday stressed the need for forging unity among the ranks of nation by setting aside differences in the larger interest o...
August 14, 2018 Read More
Sindh Governor-designate Imran
KARACHI: Pakistan Tehreek-e-Insaf (PTI) leader and Sindh governor-designate, Imran Ismail on Tuesday claimed that he was denied entry to Mazar-e-Quaid, where he had to offer Fateha. The PTI leader ...
August 14, 2018 Read More
Nawaz, Maryam arrested at Laho
ISLAMABAD/LAHORE: Former prime minister Nawaz Sharif and his daughter, Maryam Nawaz, were arrested Friday night upon their arrival in Lahore, a week after being sentenced to prison in the Avenfield Pr...
July 14, 2018 Read More
ICT development vital for coun
ISLAMABAD, Jul 13 (APP):Prime Minister Justice (Retd) Nasir-ul-Mulk Fridays while inaugurating the Pak-China Optical Fiber Cable project said that the development of information and communication tech...
July 14, 2018 Read More
128 dead 150 injured in Mastun
At least 128 people, including politician Nawabzada Siraj Raisani, were killed and more than 200 injured in a deadly suicide blast in Balochistan's Mastung district on Friday afternoon, Balochistan Ho...
July 14, 2018 Read More