The World Bank on Tuesday said its Migration and Remittance Report 2016 makes no mention of money laundering. This was in response to reports that Pakistan’s National Accountability Bureau was investigating allegations that former Prime Minister Nawaz Sharif and others had laundered $4.9 billion (approximately Rs 328 billion) to India on the basis of a news article that said the money laundering incident was mentioned in the World Bank’s 2016 report.
“The World Bank’s Remittances and Migration Report is an effort by the World Bank to estimate migration and remittances numbers across the world,” a press release said. “The report does not include any mention of money laundering nor does it name any individuals.”
The international financial institution also referred to a 2016 press release by the State Bank of Pakistan, the country’s central bank, which refuted claims that $4.9 billion had been transferred from Pakistan to India.
The National Accountability Bureau’s statement had said the money was laundered to India’s finance ministry which gave a boost to the Indian foreign exchange reserves, but that of Pakistan’s suffered.
Sharif quit from his post in 2017 after the Supreme Court disqualified him because of corruption charges against him and his family members in the Panama Papers case.
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