SC takes notice of foreign bank accounts held by Pakistanis

The Supreme Court of Pakistan ISLAMABAD: The Supreme Court on Thursday took suo motu notice of funds deposited in foreign bank accounts and foreign assets held by Pakistani citizens. Chief Justice of Pakistan (CJP), Justice Mian Saqib Nisar remarked that many Pakistanis in positions of power hold accounts in foreign banks and have been looting the country?s money and transferring it abroad through illegal channels. The CJP observed that the money looted and deposited in overseas bank accounts is a national asset and has to be brought back to Pakistan. The Supreme Court directed the Federal Board of Revenue (FBR), State Bank of Pakistan (SBP) and the Securities and Exchange Commission to submit details of all such wealth stored abroad by Pakistanis. The SBP, Intelligence Bureau, Inter-Services Intelligence, Military Intelligence and Federal Investigation Agency should share their information with the court, the chief justice instructed.