Thursday, October 29, 2020

SBP denies news item regarding 18 undeclared bank accounts

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Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

State Bank of Pakistan firmly denied a news item published in a local paper relating to the bank accounts of Pakistan Tehreek-i-Insaf (PTI) to the Election Commission of Pakistan (ECP).

Statement issued by SBP on Thursday said neither maintains the database of banks’ individual accountholders nor possesses any related information / record thereof.

SBP stated that the banks being the custodian of customers’ information may directly provide this information to various agencies, on case-to-case basis, as per procedure laid down under the respective laws.

Therefore, it is out of question that SBP has reported 18 undeclared bank accounts of PTI out of total 26 to the ECP as reported by a local paper.

SBP further said, during July 2018 ECP approached SBP for assistance to obtain the bank accounts related information of PTI from 2009 to 2013 as per Commission’s mandate enshrined in the Constitution of Islamic Republic of Pakistan and the Election Act, 2017.

SBP while discharging of its duties advised all banks to provide the required information / data directly to ECP by due date, as per procedure laid down under the law.

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
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