Overseas funds frozen by NAB Karachi?
Licensed Lawyers in Pakistan
The National Accountability Bureau (NAB) of Karachi has recently seized several sums of overseas funds worth a total of Rs. 1.11 billion from two suspects who are being accused of embezzlement of Rs. 20.73 billion from NAPF during their tenure as Chairman and Managing Director of Karachi Electric Supply Corporation (KESC) between 1993 and 2004. These funds have been seized to prevent embezzlement and stealing which is a punish
Book Appointment with Karachi’s Best Law Firm
Overseas Funds frozen by NAB Karachi: If you are the foreign national and living abroad or have your money abroad then you should be aware of the recent news. No one has to tell you what it means. Recently, an order has been passed by the National Accountability Bureau (NAB) Karachi. It seems that the NAB has decided to seize the overseas assets, which have been transferred to various banks abroad. The order is issued by the Additional DG NAB, Mr. Iftikhar Malik. It
24/7 Legal Consultation Karachi
Topic: Over the last week, the NAB Karachi has frozen thousands of overseas funds. their website Some people wonder if they were related to a scandal involving the Prime Minister Nawaz Sharif and his daughter, Shahbaz Sharif. Soon, the story took an interesting twist. In a press conference today, the director general (DG) of the NAB, Shameem Iqbal, denied this claim. He stated that all the funds frozen were under different accounts, and that no connection had been made between them and the Sh
Trusted DHA Karachi Lawyers Who Fight for You
In 2017, the NAB announced a massive crackdown on the “benami” (unrelated to an account) assets of people including politicians and business leaders, including some of the richest and most powerful in Pakistan. The move came on the back of its probe into corruption involving the late Supreme Court Judge Justice Qazi Faez Isa’s family trust (the ‘Rupee 187’). Though Justice Isa’s family had a ‘political’ and ‘commercial’ investment in “R
Top Rated Law Firm in Karachi
Yes, as I mentioned earlier, one such case in which NAB Karachi froze overseas funds was that of Rs200 million deposited by Allied Trading Limited, a company in Karachi. In 2011, NAB carried out a search of the company’s bank account in Dubai and discovered a suspicious transaction of Rs200 million. The transaction involved transferring some assets to a company called Investment Company, based in Karachi. This case shows the significance of NAB’s activities in the
Business Law Firm DHA Karachi
Dear sir/madam, I am attaching the letter written to the office of the Chief Compliance Officer of the National Bank of Pakistan (NAB Karachi) in the first week of September. click here to find out more I am in need of a fast and efficient response regarding the issue of my overseas funds which were seized by NAB Karachi for being an illegal and unapproved purpose. Firstly, I would like to request you to please let me know about the process through which this decision was taken. Did you call me or visited me in my Karachi office
Trusted Lawyers for Family, Property & Business Law
In Karachi, where the NAB Karachi, a specialised department of the federal law enforcement agency, was earlier busy with the probe of the assets of prominent business tycoons, their overseas holdings, the investigation is now also targeting their offshore bank accounts as an avenue for recovering stolen funds. There are many reports that foreign assets, mostly in London and Swiss banks, belonging to prominent businessmen, who are the subject of NAB investigation, are being frozen. The top-rated bank in London –HSB