SBP to investigate Pakistanis in Paradise Leaks

Governor SBP while talking to a private news channel has confirmed that an investigation has been opened after Paradise Leaks that took the international media by storm.

Governor State Bank of Pakistan Tariq Bajwa says investigation on paradise papers has already started. He further said that, State Bank of Pakistan will investigate investors whose name appear in the said list and media.

Paradise Leaks is one of the most implicative leakages of sensitive information after the Panama Papers. The Panama Papers and the revelations thereafter revealed numerous international personalities, politicians and celebrities who were using tax havens to evade taxes. Although, there is nothing illegal about use of tax havens, the leaks have exposed some of the most prominent figures around the world.

The Paradise Papers were released by the ICIJ which have implicated dozens of famous politicians, celebrities and sports stars. Some of the famous names who have been implicated after the leakages include: Queen Elizabeth – the monarch supreme of United Kingdom, Amitabh Bachan – Famous Bollywood actor and many of Trump’s cabinet members.

The leaks dubbed as Paradise Leaks includes names of some 135 Pakistani nationals.

The Governor informed the media house that, information about the listed 135 Pakistanis being collected at the moment. As information regarding the names is collected, the involved banks will also be investigated.

The Paradise Leaks have a potential to put the banks in hot water, as the investigations will sift through all the legal channels that were used to carry out these investments in the tax havens. Furthermore, SBP Governor has said that a detailed investigation will be carried out as to investigate how overseas accounts were issued and funds were parked abroad.