Pakistani bank wins terrorism financing case in New York court

ISLAMABAD – In what is being described as a huge success, Pakistan has won the terrorism financing case filed against the National Bank of Pakistan (NBP) in federal court in New York.

The decision not only saved Pakistan from a multibillion-dollar sanction, but also improved the South Asian country’s terrorist financing credentials in the ongoing plenary meeting of the Group of Financial Action (FATA), which put Pakistan on its gray list. in 2018.

The case was filed against the state bank by the families of nine US soldiers who were killed in a terrorist attack on a US military base in Afghanistan.

The petitioners alleged that the NBP facilitated the transfer of money from New York to Swat which was allegedly used to launch the attack. They had closed the case based on a report prepared by the Federal Bureau of Investigation.

According to the Attorney General’s office, the funds were transferred by a Pakistani national Saeed Khan from the United States to his hometown in Khyber Pakhtunkhwa province. The money was allegedly used in the attack on US soldiers in Afghanistan.

The American families were demanding billions of dollars in damages from the Pakistani bank.

The US court on Tuesday announced the verdict in favor of Pakistan after hearing the case for nearly two years.

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