CEO/president not placed on ECL: UBL

With reference to a news story titled, ‘SC orders presidents of UBL, Sindh Bank and Summit Bank be placed on ECL’, UBL has clarified that the Supreme Court of Pakistan has “not yet issued any such order and the name of the UBL president and CEO has not been included in the Exit Control List (ECL). In a statement, UBL said the FIA investigation into the alleged fake accounts is proceeding and UBL is cooperating with the concerned agencies. “UBL and/or any of its employees have not been named as accused in the FIR lodged by the FIA in the matter,” stated UBL. “It is incorrect for certain sections to suggest or conclude that UBL is involved in any way in these alleged fake accounts. It is UBL’s policy to ensure that it meets the highest standards of regulatory compliance.” 

Published in The Express Tribune, July 20^th, 2018.

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