SC adjourns foreign bank accounts case indefinitely

Officials say funds transferred through Hundi to UAE

Our Correspondent July 11, 2018
Supreme Court of Pakistan. PHOTO: AFP

ISLAMABAD: The Supreme Court (SC) on Wednesday adjourned the foreign bank accounts case for an indefinite period of time after the additional attorney general (AAG) informed the bench that the federal government requires more time to submit a detailed report.

"We have no objections as to time, but the questions remain as to what protocol is being followed to oversee foreign bank accounts of Pakistanis," the Chief Justice of Pakistan (CJP) Mian Saqib Nisar replied.

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However, there must be a clear distinction between those who have declared foreign accounts, Justice Nisar added. DG Memon, also present in court, stated that a total of 4,221 foreign properties were also identified for which a report has already been submitted in court. "People have been plundering money by engaging in white collar crime," the CJP remarked.

"Between four to five types of people have sent money abroad. But money sent through unauthorised and illegal channels needs to be brought back. We are working on a mutual legal regime with support from Ahmer Bilal Sufi," added the FIA official.

The AAG informed the court regarding the manner in which funds are sent to Dubai using the illegal mode of 'Hundi'. The money is then illegally sent to the United Kingdom or the United States of America. DG Memon further said that the finance ministry informed him that there is no breach in sending amount under $10,000. "We advised the ministry to ensure declaration of even $200," he added.

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"That is not possible, you would not see such irregularities in the world," the top judge remarked, adjourning the hearing.

 

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COMMENTS (1)

Sher Ali | 1 year ago | Reply | Recommend Foreign Accounts problem must have been solved at some level.
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