October 21, 2021

Shaukat Tarin’s clarification for his mention in Pandora Papers

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Shaukat Tarin’s clarification for his mention in Pandora Papers

ISLAMABAD Oct 03,2021- Finance Minister Shaukat Tarin has issued a clarification regarding his name in offshore companies mentioned in Pandora Papers.

Shaukat Tarin said in his statement that the companies were opened when Tariq Fawad Malik was working for the company of Tariq bin Laden of UAE.

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The finance minister added that Tariq bin Laden was a major Saudi investor, and that Tariq Fawad had obtained formal permission to invest in the Silk Bank.

 He said that no bank account of the companies was opened and no transaction took place. Later, the idea was changed then the companies were closed between 2014 and 2015.

Earlier, Tariq Fawad Malik had said that in 2014, he wanted to invest in Shaukat Tarin’s bank in the Middle East.

 He also said that his company had negotiated with the State Bank of Pakistan to allow the investment.

 

Over 700 Pakistanis owning offshore companies appeared in Pandora Papers