Banking court approves interim bail of Zardari in money laundering case

A banking court granted on Friday interim bail to former President Asif Ali Zardari in a case pertaining to money laundering through fake accounts.

Zardari and his counsel Farooq H Naek appeared before the court today where the court approved Zardari's bail and asked him to submit surety bonds worth  Rs2 million, local media reported.

Apart from Zardari, his sister Faryal Talpur is also accused in the money-laundering case. However, Faryal was granted bail before arrest.

On August 27, Zardari and Talpur recorded statements and also filled out a questionnaire prepared by the FIA.

On August 17, the banking court had issued arrest warrants for Zardari. However, on August 18, the Islamabad High Court (IHC) approved the former president’s petition for protective bail in the case.

Arrest warrants issued for Asif Ali Zardari in money laundering case

Both the brother-sister duo along with others have been accused of being involved in the case of Rs35 billion money laundering through fake accounts. The duo has been declared absconders in the case.

Meanwhile, the Federal Investigation Agency (FIA) has urged the Supreme Court to constitute a joint investigation team (JIT) to investigate the fake accounts case.

Bashir Memon, Director General FIA, requested the top court to form a JIT comprising of  officials from FIA, State Bank of Pakistan, National Accountability Bureau, Federal Board of Revenue and Securities & Exchange Commission of Pakistan.