NAB asks Maryam to explain her business ties with foreigners

ISLAMABAD: In a surprising move, the National Accountability Bureau (NAB) on Wednesday asked Pakistan Muslim League-Nawaz (PML-N) leader Maryam Nawaz to 'give details of her business relations with four foreign nationals who allegedly sent millions of rupees as remittances in Sharif family’s accounts from different countries.'

They are citizens of the United Arab Emirates (UAE), Saudi Arabia and United Kingdom, who according to the top anti-corruption watchdog have been in business relationship with Sharif family in the past decade.

“The inquiry conducted so far has revealed that you [Maryam Nawaz Sharif] are a shareholder in M/s Chaudhry Sugar Mills (CSM), NTN 0224049-1 since 1995--in this context you are required to provide details of financial relations with foreign nationals [named] Saeed Saif bin Jabar Al-Suweidi (UAE national), Sheikh Zakaud din (UK national), Hani Ahmad Jamjoom (Saudi national) and Naseer Abdullah Lootah (UAE national,” reads the NAB’s call up letter given to PML-N leader Maryam Nawaz Sharif.

Interestingly, Naseer Abdullah Lootah is already focus of NAB investigation in a multi-billion fake accounts scam involving senior leadership of Pakistan People’s Party. Lootah was accused of facilitating Majeed family and former President Asif Ali Zardari to launder billions of rupees through the Summit Bank where he had major shares.

The NAB investigation team is probing how the former president of having acquired stakes in Summit Bank through Majeed family by fraudulently showing Mr Lootah through a foreign company holding Rs1.7 billion shares (67 percent) worth Rs14.6 billion and routing his laundered money under Lootah's name and portfolio in the bank.

NAB investigation team further asked Maryam Nawaz Sharif about his shares in CSM and Shamim Sugar Mills too, sources said. “[What are] the details of your shareholdings in M/s CSM since 1995 and its mode of acquisition, transfer, sale/purchase of shares along with year--details of all remittances/telegraphic transfers (TTs) sent/received by you from abroad--break up/details of land purchased by you with actual price from various individuals,” NAB investigation team's call up letter further revealed.

The NAB investigation claimed that Maryam Nawaz and other five shareholders of CSM received more than Rs30 million through multiples TTs from aforesaid foreign nationals years back. NAB started inquiry against Sharif family after receiving a few suspicious transaction reports prepared by the Financial Monitoring Unit (FMU) operates under the Ministry of Finance, NAB officials said.

NAB sources said Maryam Nawaz denied the allegations and told the NAB team that she was not aware of these TTs having no business links with the said foreign individuals. “Maryam Nawaz Sharif has shown ignorance regarding mode of acquisition, transfer, sale/purchase of shares pertaining to Chaudhry Sugar Mills. But Maryam Nawaz failed to provide any documentary evidence in support of her contentions,” one of NAB officials associated with investigation told this correspondent.

“We’ve little knowledge about this new inquiry initiated started by NAB Lahore--I could not recall either any transactions sent by him to family back home at the moment recently--I, however, can tell you [this correspondent] that he has yet to receive NAB’s call up letter,” Hassan Nawaz told Geo News.