Senate Committee calls for investigation into fraud of Rs. 410 million at a
private foreign bank
A Senate Standing Committee on Finance and Revenue probe has
been initiated into alleged fraudulent activities in depositors' accounts at a
private foreign bank, sparking concerns among Overseas Pakistanis who claim
Rs410 million went missing. Chaired by Senator Saleem Mandviwala, the committee
called for a detailed investigation involving the State Bank of Pakistan (SBP),
Federal Investigation Agency (FIA), and the Dubai Islamic Bank (DIB).
The committee also raised questions about the legislative
powers of the caretaker government and invited caretaker ministers for law and
finance to provide their perspectives in upcoming sessions. Despite government
opposition, the committee passed amendments to the State Owned Enterprises (Governance
& Operations) Act 2023.
Extradition
of Pakistani citizen accused of bank fraud to Kuwait
Senator Bahramand Tangi presented the "State Owned
Enterprises (Governance and Operations) (Amendment) Bill, 2023" aimed at
restricting the misuse of company assets for political and monetary purposes by
the board of directors (BOD) and chief executive officers of State Owned
Enterprises (SOEs). Finance Secretary Imdadullah Bosal initially opposed the
bill, but after discussions, the committee made amendments and passed the bill.
The committee also addressed a complaint from overseas
Pakistanis alleging the disappearance of Rs410 million from their accounts in
Karachi. The complainants asserted that the money, transferred from Noor Bank
Dubai to Dubai Islamic Bank Karachi in 2017, had been withdrawn without their
knowledge through forgery by bank officials.
FIA
detains CFO and two bankers in Creek Marina fraud case
The State Bank of Pakistan (SBP) Governor Jameel Ahmed
stated that the inquiry showed the complainants' claim to be untrue, with a
total of 66 accounts in question. However, Senators expressed alarm over the
situation and emphasized the need for regulatory intervention to protect
depositors' interests. The committee decided to summon the governor of SBP,
head of DIB, and the director of FIA, along with investigating officers, to the
next meeting for further scrutiny.
Source: Dawn