In a meeting of the Senate Standing Committee on Finance, the revelation was made that a private bank manager had absconded with 5 billion rupees from bank accounts.
However, the State Bank Governor Jamil Ahmed informed the committee that the total amount involved is around 350 million rupees. The Senate Standing Committee on Finance, chaired by Saleem Mandviwalla, convened on Wednesday. During the meeting, the Chairman of the Federal Board of Revenue (FBR) stated that the State Bank Governor should provide an explanation, to which the Governor responded that the amount in question is 254 million rupees, and action has been initiated against the bank manager.
According to the State Bank Governor, the total amount involved is approximately 350 million rupees, with 270 million deposited in the account on October 12. This is a case of fraud in the banking sector, and those responsible will face legal action.
Governor State Bank provided a briefing on private bank fraud, stating that according to his information, the bank has returned the original amount along with interest. During the meeting, a representative of the affected family revealed that this sum was withdrawn from the account of retired General Tariq Parvez's family, and 350 million rupees were withdrawn from a private bank in Faisalabad.
The Senate Committee members raised the matter, and so far, 270 million rupees have been returned, consisting of the original amount and interest, with the initial alert about the fraud provided on August 25, and the return of the funds completed by October 12.
Senator Farooq Naek suggested that the State Bank should take stringent action against this bank, and Senator Musadik Malik, a member of the committee, mentioned that the swift return of the money is a success in itself.
He emphasized the need for rigorous action against such criminal activities and recommended a thorough investigation into how many bank employees were involved.
Governor State Bank expressed concerns about the situation but assured that, in the initial phase, all the money has been returned. Investigations are underway against bank employees, and further action will be based on the evidence.