NAB orders inquiry into Nawaz Sharif’s ‘money laundering to India’

NAB orders inquiry into Nawaz Sharif’s ‘money laundering to India’

ISLAMABAD: Pakistan anti-graft watchdog has ordered an inquiry against former premier Nawaz Sharif for alleged laundering of $4.9 billion to India.

The National Accountability Bureau (NAB) said in a statement that the bureau’s chairman, Justice (retd) Javed Iqbal, has ordered the investigation against Sharif and other officials while taking notice of media reports.

“According to media reports, this fact is mentioned in World Bank’s Migration and Remittances Factbook of 2016,” NAB statement said.

“The amount of $4.9 billion was laundered to India’s national exchequer, leading to a rise in India’s foreign exchange reserves and affecting Pakistan,” NAB stated.

NAB took notice of the alleged laundering on the basis of a media report, almost two years after State Bank of Pakistan rejected the claim.

On the other, WB said in a statement that such media reports attributed to it were ‘incorrect’. It said “the report does not include any mention of money laundering nor does it name any individuals.”

Sharif, his daughter, two sons and son-in-law are facing three corruption cases in Accountability Court.

The cases were registered on Supreme Court’s verdict in the Panama Papers case that also resulted in his disqualification as a lawmaker and ouster from the post of prime minister.

Separately, a NAB inquiry is also underway against Nawaz Sharif for the alleged illegal expansion of a road leading to his residence in Lahore’s Jati Umra neighbourhood. AFP