Karachi (Staff Report): The National Accountability Bureau (NAB) on Friday arrested former National Bank of Pakistan (NBP) president Syed Ali Raza on charges of corruption after the Sindh High Court turned down Raza’s bail request.

The National Accountability Bureau (NAB) had filed a reference against the former NBP chief and other officials for allegedly misusing their authority by granting and revising financing facilities in the NBP Bangladesh branch that caused a loss of $185 million to the national exchequer.

Implementing the high court's orders, NAB arrested Raza and the co-accused, including Imran Butt and General Manager Bangladesh Waseem Khan.