State Bank explains the transfer of money from the UK to Pakistan

The British National Crime Agency has not yet transferred any money to the Government of Pakistan. Source State Bank

The state bank has denied receiving money from the British broadcasting agency. The State Bank said the last day that Pakistani officials had told the British broadcaster that Pakistan had started receiving money. However, the Government of Pakistan did not receive any money from the British National Crime Agency.

According to state bank sources, the transfer of funds is online. The money is transferred to the relevant account immediately. In the agreement with the NCA, Pakistan has to credited with Rs 38 billion in assets.

The National Crime Agency of Pakistan has confirmed the payment of assets worth 19 million pounds to the Government of Pakistan from State and property Tycoon Malik Riaz and his family. The National Crime Agency of the UK accepted this offer. And this money and assets will be returned to the State of Pakistan.

The BRITISH National Crime Agency said in a statement that the country will provide assets worth 19 million pounds, including money in bank accounts in central London, in addition to the money deposited in the bank accounts. According to the National Crime Agency of Britain, the assets include One Hyde Park Place also includes an apartment in the building, worth around £500 million.

The statement also said that in August 2019, 8 bank accounts were frozen in connection with the same investigation, with a sum of £120 million. Which has been used to access any accounts since the Introduction of the AFO in the British Criminal Finance Act 2017. The biggest amount of money to be frozen.

British National Crime Agency

State Bank explains about money transfer from the UK

Before this, under the same investigation in the month of December 2018, an amount of 20 million pounds was frozen. The National Crime Agency has conducted further investigations into these funds after the magistrate's orders. The NCA also explained to the state department that If it has been acquired or used in illegal activities, it will then be frozen.

In this regard, Malik Riaz posted on Twitter that some critics are breaking the CA report and their role is being conflicted and criticized. I was legally in the UK to pay the equivalent of £190 million pounds in regards to the case of Karachi Baharia Town.

He wrote in a second tweet "According to the NCA press release, it is a civil case and does not involve criminal prosecution,"

Malik Riaz is a businessman of Pakistan who is the constructor of many buildings in Pakistan like Bahria Town. There are different phases of barrier town. Baharia town branches are in Karachi and Islamabad And also in Lahore. He also owns many factories like sugar mills and cotton factories.

Malik Riaz is a big figure in the sale of Business and property. Most of the Businessmen of Pakistan are not paying taxes which is the major reason the economy of Pakistan was going down. Taxpaying is the responsibility of every citizen of Pakistan.

The British National Crime Agency has accepted a return offer of £190m. This amount includes property in the UK, a place in London’s Hyde Park, and property worth £50m in V22H and frozen accounts. All this property will be transferred to the Government of Pakistan.

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