Almost 12 billion plus money laundering has been commenced by the Habib Bank Limited Import and Export Hub during the last two years as more than once bills of lading have been used for making payments in abroad while the State Bank of Pakistan (SBP) pointed out the illegal practice to the bank, Daily The Business has learnt reliably.
According to the trustworthy sources on the condition of secrecy said that over $110billion money laundering, the State Bank of Pakistan warned the Habib Bank Limited that awakened the bank management from the deep inactivity which prompted the top management to take action against the lower staff to save their skin.
The sources said explaining the modus operandi said that one bill of lading have been used many time to make payment in abroad through the banking system of the HBL branches in Lahore including Krishen Nagar, Data Darbar, Lake Road and Manga Mandi Branch, Lahore.
Following the SBP took notice the HBL top management involved the FIA and terminated the central character of the incident Incharge Import and Export Hub Asif Aziz, the sources informed.
The sources further said that following the incident the bank management terminated and reprimanded a number of officers and officials including Lahore Regional Chief Mujtuba Naqvi, however, the RC following severely censured resigned from the bank and joined another bank reportedly Bank Alfalah.
The sources said that lower staff was made the escape goat and a number of them including Shahid Lateef, credit head Imtiaz Ahmed, area managers Sohaib Dar, Khawaja Adnan, Ejaz, Ferhat Abbas and other were also terminated.
For the time being get shocked… it’s a Money Laundering Scam of around 12 Billion PKR caught in HBL 15 people including Regional Heads Trade and Retail Lending, 3 BMS ,3 Boms, 3 Cso have been terminated. SRC Mujtaba Naqvi and 2 AMs Mirza Bilal and Junaid Ul Haq have been reprimanded. Twenty Six more decisions are also coming. All cases are referred to FIA for investigation and Bank is a party now after disowning all these people, this was the message which was circulating in among the bankers of HBL for a long time.
It was reported that FIA finalizing the investigations has arrested 09 bankers and two private people. The sources said that on the other side important and well-known business and political people are involved in the mega money laundering of over Rs 12 billion.
When this scribe contacted HBL marketing head Naveed Asghar and legal head Tahir Cheema to know the bank version they could not be reached despite several attempts.