NAB holds meeting to review initial inquiry into 435 offshore companies


—File Photo

ISLAMABAD: Chairman, National Accountability Bureau (NAB), Justice (Retd) Javed Iqbal on Thursday directed the Bureau to expedite process of obtaining record and information required in connection with inquiry of 435 alleged offshore companies of Pakistanis in Panama and British Virgin Island.

Chairing a meeting to review progress on initial inquiry into these offshore companies, the chairman NAB said the process to get relevant information from Security and Exchange Commission of Pakistan (SECP), Federal Bureau of Revenue (FBR) and State Bank of Pakistan (SBP) should be quickened.

The Chairman further directed the Bureau to conduct inquiry without pressure or influence.Complete inquiry on merit which based on evidences and law, he added.

The persons who own offshore companies in Panama and British Virgin Islands included former chairman FBR Abdullah Yousaf who owns Green Deal Management, Greenwood Investor.

Shahid Abdullah and Shayan Abdullah own Greenwood Investor. Usman Yousaf owns Malboro and six companies of Ameer Abdullah are also included.

The Chairman directed to get information about the offshore companies of other Pakistanis at the earliest and ask reasons of establishing offshore companies and their sources of income including money trail from owners of offshore companies.

The officers have also been directed to inquire whether money was transferred abroad through banking channels or money laundering.—APP