BOP RECOVERS $ 9M AFTER LEGAL BATTLE IN COURTS

Staff Reporter

Friday, November 28, 2014 – Lahore—The Public at large might have long forgotten the Harris Group scandal that had hit BOP few years back. However, the current Management of the Bank had never given up the legal battle, both in courts of Pakistan and abroad, to recover each penny of lost public money.

Besides substantial recovery from the assets of defaulters available in the country, legal proceedings were also initiated by the Bank in UAE courts for attachment of liquid and other assets of the defaulters held in UAE.

Consequent upon vigorous legal follow up, the Bank has successfully managed to get attached and recovered in cash an amount equivalent to PKR 900 Million available in the accounts of two major accused of Harris Group in UAE. This recovery in cash, through legal battle abroad, with the help of Honorable Supreme Court of Pakistan to safeguard the interest of the depositors, shareholders and public at large, will go a long way in further strengthening the financial health of BOP.