ISLAMABAD - Chairman National Accountability Bureau (NAB) Justice (R) Javeed Iqbal chaired a meeting to review the preliminary inquiry report of 435 offshore companies owned by Pakistanis in Panama and British Virgin Islands.

It was second meeting on the issue chaired by the NAB chief at Bureau headquarters and senior officials and representative of legal wing also attended the meeting. Chairman NAB directed to expedite process of obtaining information and record from State Bank of Pakistan, Security and Exchange Commission of Pakistan and Federal Board of Revenue sans sustaining any duress.

He also directed that inquiry should be concluded in accordance with merit and in light of Law and evidence. The persons who own offshore companies in Panama and British Virgin Islands include former chairman FBR Abdullah Yousaf. Yousaf owns Green Deal Management, Greenwood Investor. Shahid Abdullah and Shayan Abdullah own Greenwood Investor. Usman Yousaf owns Malboro and six companies of Ameer Abdullah are also included.

Chairman NAB directed to get information about the offshore companies of other Pakistanis at the earliest and ask reasons of establishing offshore companies and their sources of income including money trail from the owners of the offshore companies. The officers have also directed to inquire the offshore companies had been established and money transferred abroad through banking channels or money laundering. Whether national exchequer had not been looted or caused losses through corruption.