ISLAMABAD: Mashreq Bank in the United Arab Emirates clarified that the £190 million transfer from the United Kingdom wasn’t designated for Pakistan’s government.
In response to the Supreme Court, the bank submitted a reply alongside the UK National Crime Agency’s 2019 letter.
The bank referenced the NCA letter, indicating that a UK judge nullified the freezing order on the account. They highlighted that the account holder didn’t transfer the funds to Pakistan under the NCA’s direction.
Instead, the money was sent to the Supreme Court’s account following instructions from a family member of Malik Riaz, the account holder.
Notably, the apex court, in its March 21, 2019 order, had set Rs460 billion for land agreed upon by Bahria Town Ltd and Malir Development Authority.
Several entities including Fortune Event Limited, Mubashara Ali Malik, Bina Riaz, Sana Salman, Ahmed Ali Riaz, Mashreq Bank, Ultimate Holdings MGT Ltd, Premier Investments Global Ltd, and Wedlake Bell LLP were served notices by the court.
The SC directed its office to send these notices via registered post and through Pakistan’s diplomatic missions.
