Nawaz Sharif Didn’t Launder $4.9 Billion To India, Says World Bank

The Logical Indian Crew

May 9th, 2018 / 5:31 PM

Image Credits: News18

The Former Prime Minister of Pakistan has been embroiled in yet another controversy with the National Accountability Bureau (NAB) ordering an enquiry for allegedly laundering money worth $4.9 billion to India.

NAB in a press release had said its Chairman Justice (retd) Javed Iqbal took notice of the reports making rounds on news channels claiming that Mr Sharif allegedly laundered USD 4.9 billion to India, the Express Tribune reported. Media reports were allegedly based on the World Bank’s Migration and Remittance Book 2016.

However, World Bank has denied money laundering claims. In a statement, the World Bank said, “these media reports were incorrect”.

The World Bank further said, “the report does not include any mention of money laundering nor does it name any individuals”.

It also referred to a statement by the State Bank of Pakistan which rejects estimates of $4.9 billion in remittances from Pakistan to India on September 21, 2016, and provides an explanation of the methodology used in the World Bank report and the official remittances numbers.

Nawaz Sharif is already facing corruption charges from many spheres. His undeclared source of income led him to be disqualified by the Supreme Court last year. Moreover, he was indicted by the Pakistani anti-corruption court, immediately post his name popped up in the Panama Papers, after it was found that his son and two daughters owned offshore holding offices in the British Virgin Islands and used them to buy posh flats in London. A NAB enquiry is also underway against him for alleged illegal expansion of a road leading to his estate in Lahore’s Jati Umra locality.


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Written by : Anirudh Ganeshan (Guest Author)

Edited by : Pooja Chaudhuri

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