Removal of names from ECL: NAB's plea turned down by SC

The Supreme Court turned down National Accountability Bureau (NAB) request to keep the names of KASB Bank and BankIslami Ltd and A F Ferguson & Co. on exit control list (ECL). A three-member bench headed by Chief Justice Mian Saqib Nisar on December 27 had heard a case regarding alleged irregularities in the amalgamation of KASB Bank and BankIslami Ltd.
The court order said: "We find that the act of putting the names of the auditors on the ECL is unjustified. Therefore, any order to this effect issued by the Ministry of Interior on the request of NAB is set aside with the caution that the partners of A F Ferguson shall cooperate with NAB with regard to the investigation." "The same principle shall be applicable to all the accused whose names have been placed on the ECL on the request of NAB," it added.
The apex court observed that if NAB has reason to believe on the basis of some evidence that any of the accused is preparing to leave the country to escape judicial process, it may place such material before this Court in these proceedings at which time this Court will pass appropriate orders and thus disposed of the matter accordingly. According to the details, the merger of KASB Bank with BankIslami Ltd has been approved by the State Bank of Pakistan (SBP). However, the NAB initiated some investigation about the validity and transparency of such merger and such matter is pending with the NAB.
The Court refrained from interfering in the matter by exercising its jurisdiction under Article 184(3) of Constitution. However, it was apprised that pursuant to the investigation, NAB has put the names of three senior partners of A F Ferguson & Co on the ECL on the basis that they were the auditors of both the banks and also at some point in time rendered professional assistance with regard to accomplishment of the merger which according to NAB is not transparent and fair, rather constitutes an offence to which the A F Ferguson & Co partners are accomplices. The court found it very strange that the auditors, who have merely provided professional assistance with regard to the merger of the banks which (merger) has been approved by SBP have been implicated as accused in the case and their names have been placed on the ECL. The order said: "Be that as it may, NAB may call any of the partners of A F Ferguson and Company for the purposes of investigation but this should be done with courtesy and bearing in mind the norms of respect and dignity which is a fundamental right guaranteed by the Constitution to the citizens of Pakistan." The matter was disposed of.