Corruption charges: Court extends pre-arrest bail to former NBP president

NAB issued in 2015 Syed Ali Raza a notice to appear for investigation

KARACHI: The former president of National Bank of Pakistan (NBP), Syed Ali Raza, obtained interim pre-arrest bail from the Sindh High Court (SHC) in connection with corruption charges of Rs17 billion in Bangladesh.

Headed by Justice Salahuddin Panhwar, a two-judge bench fixed the next hearing on April 20 for confirmation of the bail or otherwise.
Raza had approached the court, apprehending his arrest by the national anti-graft watchdog in connection with an inquiry regarding corruption in the NBP in Bangladesh.

The petitioner argued that the inquiry relates to two bank employees, Zubair Ahmed and SM Jahanzeb, who were involved in illegal activities overseas, which caused losses worth Rs17 billion to the national exchequer.



Denying any role in the scam, Raza contended that being the president of the bank, he was dependent on the group chiefs who were supposed to check any irregularity on the part of 16,000 employees of the bank.

However, Raza said the National Accountability Bureau investigation officer had on August 21, 2015, issued him a call-up notice to appear for investigation despite the fact that he had left the organisation on January 14, 2011.

The petitioner apprehended he may be arrested and, therefore, requested for grant of pre-arrest bail.



Granting him bail at a sum of Rs500,000, the bench fixed the matter on April 20 for the confirmation of bail or otherwise.