Assets case: Prosecution witness informs court of Dar's banking history

ISLAMABAD: The defence counsel in the assets reference case against former finance minister Ishaq Dar and other co-accused resumed his cross-examination of the prosecution witness today. 

The National Accountability Bureau (NAB) had filed an interim reference against the then-finance minister in September last year on the Supreme Court's directives in the Panama Papers case.

He was indicted in the case and has been absconding since November.

Later, in a supplementary reference, NAB named National Bank of Pakistan President Saeed Ahmed, Naeem Mehmood and Mansoor Rizvi as co-accused in the case. Mehmood and Rizvi are directors of a company owned by Dar.

As the hearing went under way, the witness, Mohammad Azeem, produced in court cheques presented by Dar to Hajvery Foundation.

Azeem is an official at a private bank. 

On January 22, 2010, Dar issued a cheque of Rs0.4 million while on March 1, 2010, he issued a cheque of Rs0.7 million.

In total, Dar issued cheques worth a total of Rs65.3 million to Hajvery Foundation, Azeem informed the court. 

At the last hearing on May 9, defence counsel Qazi Misbah had begun Azeem's cross-examination.

Azeem said he presented Dar’s bank transactions first to NAB and then to the court. The witness also detailed the transaction history of the former minister.

Witness records statement in assets reference against Ishaq Dar

Former finance minister has been absconding in case since October last year on account of medical treatment in London

The case

Dar, a close aide of Pakistan Muslim League-Nawaz supremo Nawaz Sharif, is accused of possessing assets disproportionate to his declared sources of income.

NAB filed an interim reference against Dar in September last year in light of the Supreme Court's July 28, 2017, verdict in the Panama Papers case.

The recently-filed supplementary reference is based on seven volumes and includes the account details of the accused persons, with transactions amounting to $4.06 million, according to NAB's Special Prosecutor Imran Shafiq.

The three accused in the supplementary reference are identified as directors of Dar's companies and accused of opening fictitious accounts in his name.

Dar was recently re-elected to the Senate of Pakistan but is yet to take oath as he has been in London since October last year on medical grounds.

On May 8, however, the Supreme Court, while hearing a petition against the acceptance of Dar's nomination papers, temporarily suspended Dar's Senate membership and ordered him to appear in court.