Finance Ministry initiates probe into Bahama leaks on Ishaq Dar’s order

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The Finance Ministry has taken notice of the Bahamas leaks.

On the directives of Finance Minister Ishaq Dar, FBR, SECP and State Bank will initiate an investigation into financial irregularities.

Ishaq Dar said the probe should not be influenced by anyone’s status or position. He added that the probe should be launched immediately.

International Consortium of Investigative Journalists has taken the world by a storm yet again by leaking fresh information about offshore companies in the Bahamas.

READ MORE: After Panama, comes Bahamas: Pakistanis named in new leak of offshore files

Out of 175,000 companies incorporated in Bahamas between 1959 and 2016, around 150 Pakistanis have been identified as directors of nearly 70 companies. The Bahamas Leaks is separate from the Panama Papers.

According to media reports, among those named in the Bahamas documents include Jibran Khan, the son of Mohammad Naseer Khan, a former health minister of Pervez Musharraf government; former Senator Professor Khurshid Ahmed; Mohsin Abu Bakar Sheikhani, a tycoon of the construction industry; and Tehmina Durrani’s mother Samina Durrani.

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