ISLAMABAD: Taking notice of a misleading newspaper article based on a ‘flawed’ report of the World Bank, the National Accountability Bureau (NAB) has started verification whether former prime minister Nawaz Sharif was involved in sending $4.9 billion to India.
According to NAB, World Bank’s migration and remittance book released in September 2016 carried information that foreign exchange reserves of India increased by $4.9 billion after receiving the huge amount sent through money laundering, inflicting losses to Pakistan’s national kitty.
While the World Bank promptly responded to the NAB move and stated that “the report does not include any mention of money laundering nor does it name any individuals”, the State Bank of Pakistan (SBP) said the estimates showed in the WB report were based on “assumptions” which did not reflect the reality.
Soon after the SBP’s clarification, NAB issued a brief statement and questioned: “If the World Bank report is not correct, why they have not changed the figure of 4.9 billion dollars from Pakistan in its report?”
Talking to Dawn, a spokesman for the SBP said the bank had issued clarification twice in the past — in 2015 and 2016 — rejecting the WB report.
The WB’s assessment was called a “flawed” one because those who migrated from India and became Pakistan citizens after 1947 did not send back remittances.
The fresh clarification of the WB said its report was an effort to estimate migration and remittances numbers across the world. The report does not include any mention of money laundering nor does it name any individual.
A WB spokesman said: “We would also like to refer to a statement by the State Bank of Pakistan which rejects estimates of $4.9 billion in remittances from Pakistan to India on Sept 21, 2016.”
The WB provided an explanation of the methodology used in the report and the official remittances numbers.
NAB is likely to summon an SBP official to get their point of view on the issue.
Published in Dawn, May 9th, 2018
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Comments (33) Closed
Everyone knows Nawaz is laundered money, the whole family is corrupt, even their relatives are involved on corruption. The kind of lifestyle they have doesn't correlate with the income they have. FBR and NAB can easily find out who has committed financial crimes, just take a look at the bank accounts, properties etc.
Be QUICK and proof it's authenticity and Do NOT linger on like other cases. Otherwise, NAB's existence and integrity will openly be questioned!
What kind of lame data sources are being used for these cases? This disqualification if Sharif is increasingly looking like a farce.
I don’t know what is going on in this country
It is mission against one person to remove him from people mind
No harm in investigating even if the report is not correct.
Good job done by NAB.Dont leave any loophole what so ever any department says
Thanks pakistan, your generosity is much appreciated :)
We cannot send even one thousand rupees to our relatives in India because there are so many restrictions. How come $4.9 billion transferred to India without being noticed. Common man cannot take money out or bring in without declaration, these politicians are all corrupt.
This shows unwanted targeting of Sharifs. World bank themselves are denying the report but anybody just publish something and NAB started probing. This is ridiculous and now feel that in all other cases too Sharif has been fabricated and NAB/JIT/Court don’t have any proof.
For the time being, these probes seems to be "ditching a ditch"! The probes should be fair and fast with concrete evidence in hand. Probe in a way that, justice starts to surface from the beginning.
Deaperate times for NAB and for those who are pulling the strings of this institute.
Salam Sir" No doubt every effort is being made somehow to penalize NS, one way or the other. Transfer of USD$ 4 Billion several years ago, and NO government nor SC, nor IK, nor PPP nor SBP noted or took action in this regard?
An example of political victimization and pre-poll rigging by biased NAB .
The next destination for Nawaz Sharif is Adalia jail, Rawalpindi
don't know what the truth is but if this were true, it would not come as a surprise to me
our population is dying due to water shortage ,hunger ,and lack of health facilities .but such huge amount of money is sent to another country.all state holders are responsible for this crime.
NAB still doesn't have enough evidence and asking for extension of the case now found another allegation.
creating doubts , if its only about ONE PERSON
almost 5 billions us dollars sent to India and still free to walk around in the garden?
I don't think Shariff's are that rich firstly. Secondly do go to somebody with second hand information... Go directly to the source which is WB, and investigate from their.
If this the kind of allegations against NS, no doubt he is being targeted by JIT and NAB.
Nawaz Sharif must be put in jail if news correct about him, and be declared eligible for politics if news incorrect. All those who illegally sent money to India must be put in jail.
There is always some thing new to wonder every day...!
Still NAB claims it is not prejudiced. NAB believe more in fake news than in rationally.
@nauman "An example of political victimization and pre-poll rigging by biased NAB ." If that is an example of political victimization, it started long ago when other politicians were investigated for different reasons.
Yet another Nail in his coffin...
This case is clearing up things things for Pakistanis!!! Most stupid charge against NS that World Bank itself denied that these figures are all result of an erroneous assumptions based on a study carried out by a team of world bank!!! NAB lost all its credibility in this farce case
cannot rely solely on SBP perspective, since Billions of Dollars have been sent outside Pakistan, in last 10 yrs through Banking channels, but SBP has no such record
Now we know where all of the Pakistani stolen money has gone. India is caught red-handed.
NAB should cancel the summer vacations of it's employees and start working day and night to decide quickly and within a timeframe about the mega corruption and money laundering cases of the corrupt Sharif mafia. It's already too late. The more time NAB will take, the more fake and forged documents Sharif family will prepare and then again NAB will need more extra time to work on them as well.
@Ash2000 "This shows unwanted targeting of Sharifs. World bank themselves are denying the report but anybody just publish something and NAB started probing. "
Denial by world bank is all the more reason for investigation. World bank is part of the US-Israel and India alliance that works against Pakistan.
white collar crime is not easy to catch, example must be set once to give strength to the institutions. it seems future of our country depend upon catching big fish now.
Hon'ble CJ is proceeding abroad and the authority of the NAB is being questioned by Khawqan's son! Is this just a coincidence?
Comments (33) Closed
Everyone knows Nawaz is laundered money, the whole family is corrupt, even their relatives are involved on corruption. The kind of lifestyle they have doesn't correlate with the income they have. FBR and NAB can easily find out who has committed financial crimes, just take a look at the bank accounts, properties etc.
Be QUICK and proof it's authenticity and Do NOT linger on like other cases. Otherwise, NAB's existence and integrity will openly be questioned!
What kind of lame data sources are being used for these cases? This disqualification if Sharif is increasingly looking like a farce.
I don’t know what is going on in this country
It is mission against one person to remove him from people mind
No harm in investigating even if the report is not correct.
Good job done by NAB.Dont leave any loophole what so ever any department says
Thanks pakistan, your generosity is much appreciated :)
We cannot send even one thousand rupees to our relatives in India because there are so many restrictions. How come $4.9 billion transferred to India without being noticed. Common man cannot take money out or bring in without declaration, these politicians are all corrupt.
This shows unwanted targeting of Sharifs. World bank themselves are denying the report but anybody just publish something and NAB started probing. This is ridiculous and now feel that in all other cases too Sharif has been fabricated and NAB/JIT/Court don’t have any proof.
For the time being, these probes seems to be "ditching a ditch"! The probes should be fair and fast with concrete evidence in hand. Probe in a way that, justice starts to surface from the beginning.
Deaperate times for NAB and for those who are pulling the strings of this institute.
Salam Sir" No doubt every effort is being made somehow to penalize NS, one way or the other. Transfer of USD$ 4 Billion several years ago, and NO government nor SC, nor IK, nor PPP nor SBP noted or took action in this regard?
An example of political victimization and pre-poll rigging by biased NAB .
The next destination for Nawaz Sharif is Adalia jail, Rawalpindi
don't know what the truth is but if this were true, it would not come as a surprise to me
our population is dying due to water shortage ,hunger ,and lack of health facilities .but such huge amount of money is sent to another country.all state holders are responsible for this crime.
NAB still doesn't have enough evidence and asking for extension of the case now found another allegation.
creating doubts , if its only about ONE PERSON
almost 5 billions us dollars sent to India and still free to walk around in the garden?
I don't think Shariff's are that rich firstly. Secondly do go to somebody with second hand information... Go directly to the source which is WB, and investigate from their.
If this the kind of allegations against NS, no doubt he is being targeted by JIT and NAB.
Nawaz Sharif must be put in jail if news correct about him, and be declared eligible for politics if news incorrect. All those who illegally sent money to India must be put in jail.
There is always some thing new to wonder every day...!
Still NAB claims it is not prejudiced. NAB believe more in fake news than in rationally.
@nauman "An example of political victimization and pre-poll rigging by biased NAB ." If that is an example of political victimization, it started long ago when other politicians were investigated for different reasons.
Yet another Nail in his coffin...
This case is clearing up things things for Pakistanis!!! Most stupid charge against NS that World Bank itself denied that these figures are all result of an erroneous assumptions based on a study carried out by a team of world bank!!! NAB lost all its credibility in this farce case
cannot rely solely on SBP perspective, since Billions of Dollars have been sent outside Pakistan, in last 10 yrs through Banking channels, but SBP has no such record
Now we know where all of the Pakistani stolen money has gone. India is caught red-handed.
NAB should cancel the summer vacations of it's employees and start working day and night to decide quickly and within a timeframe about the mega corruption and money laundering cases of the corrupt Sharif mafia. It's already too late. The more time NAB will take, the more fake and forged documents Sharif family will prepare and then again NAB will need more extra time to work on them as well.
@Ash2000 "This shows unwanted targeting of Sharifs. World bank themselves are denying the report but anybody just publish something and NAB started probing. "
Denial by world bank is all the more reason for investigation. World bank is part of the US-Israel and India alliance that works against Pakistan.
white collar crime is not easy to catch, example must be set once to give strength to the institutions. it seems future of our country depend upon catching big fish now.
Hon'ble CJ is proceeding abroad and the authority of the NAB is being questioned by Khawqan's son! Is this just a coincidence?