The investigation into the scam revealed that PPCBL
CFO Tahir Iqbal Butt who was also a member of the Fund Placement Committee which remains sole responsible of PPCBL
funds investment, whereas, the accused as CFO and member of committee was subjected to ascertain and analyze the financial health, credit rating and other aspects regarding the Institute in which PPCBL
intends to invest with but the accused failed to apply prudence regarding investment decisions.
It said the investigation revealed that suspect Tahir Iqbal Butt serving as a chief financial officer of PPCBL
and a member of the Fund Placement Committee was responsible for the PPCBL
We plan to bring PPCBL
side by side with other commercial banks.
State Bank of Pakistan provides credit line to ZTBL and PPCBL
at the concessionary rates since their inception.
had filed the appeal in the Supreme Court saying that the court had relied exclusively on the investigation officer's submission.
On March 11, 2010 LHC had directed the Manager PPCBL
to provide the amount to NAB authorities, which was put under caution by NAB and the petition was disposed of.
65 million and in the form of transfer of properties in name of PPCBL
amounts to Rs 56.
Amongst specialized banks, ZTBL could achieve only 34% of its target by and PPCBL
achieved 48% of their target by disbursing an aggregate amount of Rs4.
5 billion and PPCBL
attained 15% of its target by disbursing Rs 1.
5 billion while PPCBL
achieved 15% of its target by disbursing Rs 1.
About protection of financial interests of account holders, he said that PPCBL
was not behind other banks in giving percentage of profit.
Through the years, Rizwan, who believes in building sustainable relationships, has been responsible for progressively expanding Xpress Money's operations in Pakistan through partnerships with various financial institutions such as NBP, UBL, MCB, BOP, JS Bank, BOK, DIB, Tameer Microfinance Bank, PPCBL
, Summit Bank, KASB, Telenor and Ufone amongst others over the past few years.