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Governor State Bank leaves country to escape possible arrest in graft case.

Byline: Naimat Khan

KARACHI -- Though an impression has been created that Governor State Bank of Pakistan (SBP) Yaseen Anwar has resigned of his post due to his mismatched chemistry with federal finance minister on financial matters, highly reliable sources said the Governor has stepped down to escape his possible arrest in a graft case.

Well-placed sources told The Frontier Post that Governor of the country's central bank has left country after submitting his resignation due to likely placement of his name on the Exit Control List (ECL). The Governor SBP is alleged of supporting the central bank officials and a multinational money exchange company that caused huge losses to a national exchange company. Sources said that Governor SBP, Yaseen Anwar, held with him the proofs against central bank's officials Mohammad Mansoor Ali, Director, EPD, Mr. Moinuddin Additional Director EPD and Najm-us-Saqib Shabbir, Additional Director EPD, who are found guilty of huge violations and large scale illegal gratification.

After the aggrieved party moved to the court it issued arrest warrants of these officials for joining hands with Western Union and causing huge financial losses to top Pakistani foreign exchange company ZARCO Exchange which has received the grate awards for its flawless and tremendous performance. The court also issued arrest warrants of Mr. JC Farah senior executive of western union along with Sobia Rehman and Hamid Fareed, regional head for Afghanistan and Pakistan for money laundering and tax evasion.

Sources claimed that in aftermath of this development Governor SBP was approached by multinational exchange company. Subsequently, Yaseen joined hands them and refused to hand over important record to the FIA and Tax authorities, sources alleged.

Sources further said that Governor also violated the SBP's rules and spent huge amount from SBP funds to save these culprits. Moreover, Yaseen also utilized 50 million of the taxpayers' money to buy new car unlawfully.

ZARCO has now submitted an application for reinvestigation which is in the process and Governor fearing his name to be placed on ECL left the country after submitting his resignation. But, sources informed, sensitive agencies are trying to get red warrants for Mr JC Farah, Sobia Rehan and the SBP officials who had became their accomplices in the fraud.

This daily had published while citing reliable sources that high officials of Exchange Policy Department (EPD) of the Pakistan Central Bank (SBP) had gone underground after the country's investigative agency, FIA initiated probe against them.

Despite several attempts were made at both landline and mobile numbers, contact could not be established with spokesman of the central bank for official version.

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Publication:Frontier Post (Peshawar, Pakistan)
Date:Jan 30, 2014
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