ISLAMABAD – Director General Federal Investigation Agency (FIA) BashirMemon told the Supreme Court on Wednesday that 4,221 Pakistanis haveforeign bank accounts and assets in the United Arab Emirates (UAE).

The Chief Justice of Pakistan, Justice Saqib Nisar, was heading thetwo-member bench in the sou motu case pertaining to foreign bank accountsand assets of Pakistanis.

The DG FIA revealed that information during today’s hearing after whenthe Chief Justice asked, “FIA should inform us how many Pakistanis haveassets and accounts in the UAE.”

Justice Nisar said, “We had earlier ordered that we be informed regardinghow many people have foreign accounts as we should know who has notdeclared them.” He further observed, “Billions have been kept in bankaccounts in Switzerland and Dubai.”

He continued, “People looted the money and took it abroad.”

While responding to this, the DG FIA remarked, “They took the money abroadas per the law in 1992. Some took the money abroad through lawful means butthere are also people who looted tax money and transferred it abroad.”

DG FIA continued, “That money was taken to the United States, Canada andEurope.”

He added that FIA don’t have the authority for mutual assistance saying, “Aplan of action needs to be made to bring back this money.”

Then, the Chief Justice remarked, “A mechanism is needed to endwhite-collar crime. We will need to come up with a way to remove legalhurdles.”

afterwards, the Court summoned senior lawyer and legal expert Ahmer BilalSoofi to assist the court.

Furthermore, the DG FIA said, “Money is also sent abroad through ‘hundi’.”

Justice Nisar said, “This is why a mechanism is needed to ensure that moneycannot be sent abroad. The mechanism should not be such that a persontravelling abroad even has to declare as little as $200.”