UBL denies president faces travel ban

KARACHI: Unite Bank Limited on Thursday rejected media reports that the name of its president and CEO had been placed on the Exit Control List (ECL) on the orders of the apex court.

“The Honourable Supreme Court of Pakistan has not issued any such order nor the name of the president and CEO of UBL has been included in ECL,” the bank in a statement issued. In addition, the statement said the FIA investigation into the alleged fake accounts was proceeding and the UBL was cooperating with the concerned agencies.

“The UBL and/or any of its employees have not been named as accused in the FIR lodged by FIA in the matter. It is incorrect for certain sections to suggest or conclude that UBL is involved in any way in these alleged fake accounts,” the bank said. It further said that it was UBL’s policy to ensure that it met the highest standards of regulatory compliance.