Money laundering case: Banking court grants interim bail to Zardari

Money laundering case: Banking court grants interim bail to Zardari

Karachi (Staff Report): A banking court on Friday granted interim bail to the former president Asif Ali Zardari in a money laundering case.


The former president along with his counsel Farooq Naik appeared before the banking court and was granted interim bail on furnishing bail bonds of Rs2 million.

Talking to newsmen, Farooq H Naik said that Asif Ali Zardari has been granted interim bail for 15 days. We are ready to face the trial, he added.

The court adjourned the hearing of the case till September 4.

Earlier, as the former president arrived for the hearing, a journalist commented that he did not come in a helicopter to which the former president said, "Wait a little, I will come back in one."

Responding to a question, Asif Ali Zardari said, "Aitzaz Ahsan will become the next president of the country."

On August 17, a banking court had issued non-bailable arrest warrants for Zardari and other absconding suspects in the ongoing investigation.

The Islamabad High Court (IHC) on August 18 had approved the protective bail on the petition filed by the former president in the case and ordered him to appear before the relevant court before September 3.

The FIA is investigating 32 people, including Asif Ali Zardari and his sister Faryal Talpur in connection with money laundering from fake accounts.

Zardari’s close aide Hussain Lawai was arrested in July in connection with the probe.

Former president's other close aide and Omni Group chairman Anwar Majeed and his son, Abdul Ghani, were also arrested by FIA earlier this month whereas Majeed’s three other sons were granted interim bail.

Over 20 ‘benami’ accounts were opened in 2013, 2014 and 2015 in some banks from where transactions worth billions of rupees were made, according to sources.

According to FIA sources, the amount is said to be black money gathered from various kickbacks, commissions and bribes.