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MarketScreener Homepage  >  Equities  >  KARACHI STOCK EXCHANGE (GUARANTEE) LIMITED, THE  >  Habib Bank Limited    HBL   PK0085101019

HABIB BANK LIMITED

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Habib Bank : UN anti money laundering department has started investigation against Nawaz Sharif

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07/19/2018 | 04:26am EDT

After getting written proofs against former Prime Minister Nawaz Sharif the United Nation (UN) anti money laundering department has started investigation against Nawaz Sharif.

Department has decided to get all the record regarding financial matters of Nawaz Sharif and his family from the concerned banks.

The UNODC has stated that formal investigation against former Prime Minister of Pakistan Nawaz Sharif. It was proved in the initial investigation that Nawaz Sharif's has remitted the amount of 10.4 million USD from Saudi Arabia from 2014 to 2017 to Habib Bank New York Brach, which was further received in Standard Chartered Bank Raiwind Branch Lahore.

The concerned officials of above mentioned department have unobjectionable proofs of amount remittance. The United State had also imposed fine of Rs. 26 billion on Habib Bank New York branch on hidden remittance of massive amount.

Nawaz Sharif had opened an account in Saudi Arabia's bank on the name of Hill Metal Company and massive amount remittance revealed through this account.

It learnt that Nawaz Sharif had badly used Habib Bank of Pakistan, Al-Razi Bank Saudi Arabia and Standard Charted Bank. In this crime Habib Bank had also face fine.

According to record Nawaz had committed money laundering of 10.4 million dollars. The International anti money laundering department has speed-up investigation process.

According to the documents 266000 US Dollar had transferred to Hill Metal Jeddah Saudi Arabia and then transferred on the name of Nawaz Sharif on March 03, 2014. These funds had also released from Habib Bank Branch New York. Al-Razi Bank Saudi Arabia and Habib Bank had also involved in this transaction.

Moreover, on March 9, 2015$799945 had transferred from A-Razi bank to Habib Bank New York branch and then transferred to Nawaz Sharif through Standard Chartered.

On 22 Mar 2015, $ 499965 were transferred from Saudi Arabia to Habib Bank Branch New York, there from transferred to Standard Chartered Bank Branch Lahore in Nawaz Sharif's accounts.

Again on 22 Mar 2015, $ 499915 transferred from Razi Bank Saudi Arabia to Habib Bank Branch New York and then transferred to Pakistan, standard Chartered Bank Lahore in Nawaz Sharif's accounts. During April 2015, $ 8165000 were also transferred from Saudi Arabia to Habib Bank New York Branch and then to Standard Chartered Bank Lahore in Nawaz Sharif Accounts.

On July 31, 2015, $ 79965, transferred from Razi Bank Saudi Arabia to Habib Bank Branch New York and therefrom to Standard Chartered Bank Lahore again in his accounts. On Nov 24, 2015, again through same route $33965 added to his account in Standard Chartered Bank Lahore.

On Feb 25, 2016, yet again $480000 from Razi Bank Saudi Arabia to Habib Bank New York and then Standard Chartered Bank Lahore in his accounts. On Mar 18, 2016, $99965 from Saudi Arabia to Habib Bank Branch New York and further to Standard Chartered Bank Lahore in his accounts. On Apr 04, 2016, $99965 from Saudi Arabia to Habib Bank Branch New York and then to Standard Chartered Bank Lahore in his accounts. On April 20, 2016, $499965, Razi Bank Saudi Arabia to Habib Bank New York Branch and then to Standard Chartered Bank Lahore. On May 04, 2016, $99965 from Razi Bank Saudi Arabia to Habib Bank New York Branch and then to Standard Chartered Bank Lahore.

On August 03, 2016 massive amount 99965$ had transferred on Nawaz Sharif name. Moreover, on July 17, 2017 21000$ had transferred on Nawaz Sharif name and on 17 February 2017, 99999% had transferred to Nawaz Sharif.

© Pakistan Press International, source Asianet-Pakistan

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Financials (PKR)
Sales 2019 121 B
EBIT 2019 34 311 M
Net income 2019 25 173 M
Debt 2019 -
Yield 2019 5,12%
P/E ratio 2019 8,28
P/E ratio 2020 5,89
Capi. / Sales 2019 1,65x
Capi. / Sales 2020 1,39x
Capitalization 199 B
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Number of Analysts 16
Average target price 179  PKR
Spread / Average Target 32%
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Muhammad Aurangzeb President & Chief Executive Officer
Ali Akbar Allana Chairman
Sagheer Mufti Chief Operating Officer
Irfan Ahmed Meer Acting Chief Financial Officer
Fareed Hosain Chief Information Officer
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