February, 22, 2024
Mashreq Bank Refutes Bahria Town Case Allegations

Mashreq Bank Refutes Bahria Town Case Allegations

Infostani Sources- Mashreq Bank has responded to the Bahria Town case currently under consideration in the Supreme Court by submitting its response and documents. Mashreq Bank, in a brief one-page response to the Supreme Court, stated that Malik Riaz’s family provided specific instructions for transferring funds to the bank account in the interest of Bahria Town. Mashreq Bank PSC executed the payment on behalf of its client, Mubashera Ali Malik. The Supreme Court plans to address the Bahria Town case today. In addition to its response, Mashreq Bank has provided supporting documents indicating that it operates under the laws of England and that the relevant courts in Great Britain hold exclusive jurisdiction.

The documents also contain a letter from the UK’s National Crime Agency (NCA) confirming that the relevant court had revoked the account freezing order. These documents rebutted allegations and propaganda that implied the money was being seized in favor of the Government of Pakistan, asserting that it was not intended for use by Bahria Town. In November 2019, Westminster Magistrates’ Court confirmed that District Attorney Snow had suspended the account freezing order issued on December 14, 2018.

Mashreq Bank’s Role in Bahria Town Case: Significant Transfers and Notices

In November 2019, Mubashera Ali Malik directed the London branch of Mashreq Bank to transfer £19,999,984.27 from her account to the account of the Supreme Court of Pakistan. It is important to note that a three-member bench, led by Chief Justice Qazi Faiz Isa, had issued notices to all individuals who had sent money (136 million pounds and 44 million dollars) from abroad during the hearing of the Bahria Town case on October 18. In Pakistani rupees, this amount translates to approximately 135 billion rupees. The recipients of the notices include Fortune Event Limited Dubai, Mubashera Ali Malik Dubai, Benar Yaz and Shana Salman Dubai, Ahmad Ali Riyadh UAE, Mashreq Bank PSC London, and Premier Investment Global Limited Dubai.

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