In a meeting of the Senate Standing Committee on Finance, the revelationwas made that a private bank manager had absconded with 5 billion rupeesfrom bank accounts.
However, the State Bank Governor Jamil Ahmed informed the committee thatthe total amount involved is around 350 million rupees. The Senate StandingCommittee 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 whichthe 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 isapproximately 350 million rupees, with 270 million deposited in the accounton October 12. This is a case of fraud in the banking sector, and thoseresponsible will face legal action.
Governor State Bank provided a briefing on private bank fraud, statingthat according to his information, the bank has returned the originalamount along with interest. During the meeting, a representative of theaffected family revealed that this sum was withdrawn from the account ofretired General Tariq Parvez’s family, and 350 million rupees werewithdrawn from a private bank in Faisalabad.
The Senate Committee members raised the matter, and so far, 270 millionrupees have been returned, consisting of the original amount and interest,with the initial alert about the fraud provided on August 25, and thereturn of the funds completed by October 12.
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Senator Farooq Naek suggested that the State Bank should take stringentaction against this bank, and Senator Musadik Malik, a member of thecommittee, mentioned that the swift return of the money is a success initself.
He emphasized the need for rigorous action against such criminal activitiesand recommended a thorough investigation into how many bank employees wereinvolved.
Governor State Bank expressed concerns about the situation but assuredthat, in the initial phase, all the money has been returned. Investigationsare underway against bank employees, and further action will be based onthe evidence.