Pakistan has won the terror financing lawsuit against the National Bank of Pakistan (NBP) in federal court in New York, marking a significant legal triumph on an international level.
The NBP was able to avoid a billion-dollar penalty that would have forced the bank into bankruptcy if it had not won the case.
The bank was accused of assisting in the transfer of monies used to plot and carry out an attack on a US military facility in Afghanistan.
If the bank had lost the terror financing case, a billion-dollar fee would have been enforced as a penalty, putting the bank out of business, according to a top official in the AGP office who spoke to The News agency.
Furthermore, the person stated that Pakistan had avoided potential complications with the FATF as a result of the victory.
He explained that the case was handled by the Office of the Attorney General’s International Disputes Unit.
Ahmed Irfan was in charge of the group. Furthermore, the same team was involved in the Karkey, Reko Diq, PIA, and Tuwairqi cases, all of which resulted in beneficial conclusions.
According to the allegations, Saeed Khan, a Pakistani national living in the United States, donated money to his hometown of Mangora (Swat), an amount that was later utilised in terrorist activities in Afghanistan, murdering nine soldiers.
To read our blog on “Pakistan begins diplomatic efforts to remove itself from the FATF’s grey list,” click here.
