CJP takes suo motu notice of foreign bank accounts held by Pakistani citizens

Chief Justice of Pakistan (CJP) Mian Saqib Nisar on Thursday took suo motu notice of foreign bank accounts held by Pakistani citizens.

Justice Nisar said there are reports circulating that people in positions of power have been looting money and transferring it to foreign countries.

The Supreme Court asked the Federal Board of Revenue (FBR) to share in a report submitted in court what steps it had taken regarding the matter of offshore companies after the release of the Panama Papers and Paradise Papers, which revealed details of wealth stored abroad by Pakistani citizens.

The court directed the FBR, State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan and Finance Ministry to submit a detailed report on the matter in court.

"The SBP, Intelligence Bureau, Inter-Services Intelligence, Military Intelligence and Federal Investigation Agency should share their information with the court," the chief justice said.

He added that the Foreign Ministry and SBP should share details of Memorandums of Understanding and agreements to be inked with various countries for the return of looted money to the country.

Additionally, the CJP directed FBR Chairman Mr Tariq Mahmood Pasha ─ a close aide of former finance minister Ishaq Dar ─ to tell the court how many Pakistanis hold accounts in Swiss banks, and banks in other countries.

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Ahsan Gul

Feb 01, 2018 02:00pm

Yes, important step in right direction to stop national wealth transferring overseas. Honorable CJ must know that we have an expert family of NS who can assist him on this issue.

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Feb 01, 2018 02:10pm

The nation prayers with you CJP, if the supreme court succeeded in returning looted money, you will see in few years Pakistan will be on the route of prosperity

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Improve Judiciary

Feb 01, 2018 02:10pm

Yet another good suo motu by the SC. Keep it up.

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iffi

Feb 01, 2018 02:12pm

Salutes Sir for the service you are doing for this country .... all illegal funds should be recovered & be used for debt payments etc .... salutes again sir

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Ahmed Javed

Feb 01, 2018 02:13pm

Best CHIEF JUSTICE EVER!!!!!

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iffi

Feb 01, 2018 02:18pm

Sir this is a defining moment in Pakistan's history, if you succeeded in bringing back the looted money, it will change our destiny & you plus other honorable judges of SC will make history & will always be remembered for your service to this poor nation / country .... SALUTES SIRS

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Khan

Feb 01, 2018 02:30pm

Please make a policy change to 1.Exempt Nicop holder accounts from becoming dormant every 6 months. 2.Allow bank branch to undormant accounts and not Head Office. Foreign banks donot dormant accounts every 6 months. Overseas Pakistani cannot come to Pakistan to undormant account every 6 montths. As a Nicop holder I have tried to undormant my account in UBL account in last 24 trips to bank in person in 2 Visits to Pakistan and provided repeately all required documents and still Karachi UBL Head office is not undormant the accout eventhough I and Local bank branch staff is frustrated.Head office will not give a reason that why they cannot undormant. Allow bank branch to undormant account and not Head Office. This rule was before but it was changed. This is the reason Pakistani are using Foreign banks and keeping money in other countries banks accounts also and Pakistan is loosening the Foreign accounts. Houstoncloud@gmail.com

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Al Marzook

Feb 01, 2018 02:38pm

Honorable CJP Mr. Nisar, you are doing a superb job, keep up the good work and expose these so called criminals.

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Anti-Corruption_Pakistani

Feb 01, 2018 02:50pm

After seventy years of independent, first time, I have seen that CJP has acted as an authority with power to take action against corrupt and powerful mafia. This is a good news for Pakistan and their ordinary citizens, and BAD news for corrupt politicians, dishonest buerocrats and greedy businessmen. Keep up the GOOD work honorable judges, nation is proud of you!

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Javed Hameed

Feb 01, 2018 04:42pm

Correct action by the apex court.

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khanm

Feb 01, 2018 05:39pm

@iffi Equal justice under law is not merely a caption on the facade of the Supreme Court building, it is perhaps the most inspiring ideal of our society. It is one of the ends for which our entire legal system exists...it is fundamental that justice should be the same, in substance and availability, without regard to economic status. great going I endorse it as well...

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Haider

Feb 01, 2018 09:26pm

Sir, Please pursue this case to fullest...please order a hearing on daily basis...it is mother of all corrupt practices...the other side is already one step ahead...they ve already sensed your direction..they are already working on an amnesty scheme...

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Sarwat

Feb 02, 2018 09:27am

Wrong person to delegate this charge to.

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