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You are here:    Home      Posts tagged "Summit Bank"

From Murad Shah to Bilawal: Everyone on the ECL in the fake accounts case

The names of 172 people being investigated in the case have been placed on the ECL

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December 28, 2018


Anwar Majeed to be shifted to PIMS, AG Majeed, Hussain Lawai to Adiala Jail: SC

CJ orders JIT to complete investigation in the money laundering case and submit a report within 10 days

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November 17, 2018


Asif Zardari has been granted bail but Hussain Lawai has to wait till Monday to know if he has been too

Former president Asif Ali Zardari’s protective bail was approved on Saturday by the Islamabad High Court. The decision in Hussain Lawai’s bail plea, however, will be announced on Monday. On Friday, a banking court in Karachi issued a warrant for his arrest in a money laundering case. Zardari had approached the court for protective bail…

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August 18, 2018


The FIA found four more accounts used for money laundering in Sindh

The FIA has found evidence of another four accounts used in money laundering in Sindh. This brings the total number of fake accounts up to 33. The agency is investigating a case of over Rs35 billion being funneled through fake bank accounts at three local banks – Sindh Bank, UBL and Summit Bank. Former Pakistan…

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August 11, 2018


Summit Bank is not closing down, despite rumours on social media

Speculations regarding Summit Bank closing operations are false and misleading. The bank will continue to provide its banking services as usual. The rumors stemmed from a notice by National Clearing Company (NCC), dated August 2, which is terminating Summit Bank’s status as a settling bank with effect from August 17. The directive comes after Summit…

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August 8, 2018


FIA says it can prove Faryal illegally sent Owais Muzaffar Rs30m

The FIA has obtained evidence of Faryal Talpur having illegally sent Rs30 million to Owais Muzaffar’s account in Dubai. Talpur is former president Asif Ali Zardari’s sister while Muzaffar is their foster brother. The FIA will be presenting this evidence before the chief justice on August 6 in a suo motu case. They are suspects…

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August 2, 2018


FIA summons Asif Zardari and Faryal Talpur on August 4

The FIA has asked, for the third time, former president Asif Ali Zardari and his sister Faryal Talpur to appear before it in Islamabad in a money laundering case on August 4. Zardari’s aide Anwar Majeed and his two sons, AG Majeed and Nimar Majeed, have also been summoned. They are all suspects in a…

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August 1, 2018


Asif Zardari and Faryal Talpur’s names removed from the ECL

Asif Ali Zardari and Faryal Talpur’s names were removed from the ECL on Wednesday. The move came after the chief justice said they were not suspects in a money laundering case. The interior ministry removed their names and sent a notification to all the relevant authorities. Their names were placed on the ECL by the…

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July 18, 2018


Hussain Lawai says he has not been accused of money laundering

Summit Bank Vice-Chairperson Hussain Lawai has denied that he has been accused of money laundering. Lawai was arrested on July 6 by the FIA for his involvement in a money laundering scandal that involved 29 fake accounts made on seven people’s names. He recorded his statement on Wednesday at the FIA’s State Bank Circle where…

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July 11, 2018


Asif Zardari and Faryal Talpur cannot travel abroad

PPP Co-Chairperson Asif Ali Zardari and former MNA Faryal Talpur have been barred from traveling abroad. Their names have been placed on the stop list, a subcategory of the Exit Control List, at the behest of the Supreme Court. The FIA is investigating their involvement in a money laundering case. Talha Raza, Aslam Raza and…

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July 9, 2018


SC summons Summit Bank, Sindh Bank and UBL heads in money laundering case

The Supreme Court has ordered the heads of Summit Bank, Sindh Bank and UBL to appear before it in a case involving fake bank accounts. Chief Justice Saqib Nisar asked FIA Director General Bashir Memon to give the court the investigation files. Memon informed the court that the case involved 29 fake accounts on seven…

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July 8, 2018


FIA gets custody of Hussain Lawai till July 11

Asif Ali Zardari’s close aide Hussain Lawai was presented before a judicial magistrate on Saturday. The FIA was granted his physical remand till July 11. He was brought to the City Court a day after being arrested by the FIA in a money laundering case. Lawai is the chairperson of the Pakistan Stock Exchange and…

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July 7, 2018

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