Ex-Mehran Bank Chief
Born: N/A
Profession: Banker
Affiliation(s): Habib Bank Limited
Citizenship: Pakistani
Profile Younus Habib Warraich, former Mehran Bank chief and central character in the controversy pertaining to disbursement of money between anti-PPP politicians. He supported Pakistan People’s Party in 1993 election to atone for his wrongdoings committed against the PPP in 1990. He had supported religious elements against Nawaz Sharif in an attempt to correct the ‘mistake’. Former Mehran Bank chief Younus Habib told the Supreme Court that former president Ghulam Ishaq Khan squeezed him to provide money for disbursement among anti-PPP politicians in 1990. Three-member bench of the apex court headed by Chief Justice Iftikhar Muhammad Chaudhry hearing a plea moved by Air Marshal retired Asghar Khan 1996, regarding alleged disbursement of money among the anti-PPP politicians by former Army Chief General Aslam Beg, ex-director general ISI Lt. Gen. Asad Durrani and former Mehran Bank chief Younus Habib to disrupt the general elections. Habib told the court that he could not bear pressure from the then president and arranged Rs1.40 billion. He said Gen Aslam Baig and an ISI officer Col Akbar opened several accounts. He said Baig told him that the money was needed for national interest. Later talking to media, ex-chief of the Mehran Bank Younus Habib has admitted paying the sum of Rs 350 to 400 million on the orders of the then president Ghulam Ishaq Khan and ex-COAS Mirza Aslam Beg. Mehran Bank scandal The Mehran bank scandal also known as Mehrangate, was a major political scandal in the history of Pakistan between 1990-1994 in which senior politicians and political parties were found to have been bribed by Pakistan Army and intelligence officers, from ISI, to prevent the re-election and to destabilize the government of the Pakistan Peoples Party (PPP). Initiated by Pakistan Army's Chief of Army Staff General Mirza Aslam Beg with the alleged support of President Ghulam Ishaq Khan payments of up to 140 million PkR were made by the Inter-Services Intelligence (ISI) Director-General Lieutenant-General Asad Durrani and Corps of Engineers Engineer-in-Chief Lieutenant-General Javed Nasir via the owner of Mehran Bank Yunus Habib. Intelligence funds were deposited in Mehran bank in 1992 propping up what was an insolvent bank as a favor for its owner's help in loaning money to the Inter-Services Intelligence in 1990 that was used in the creation of the right wing alliance Islami Jamhoori-Ittehad (IJI) and bankrolling the campaigns of many opponents of the PPP. The scandal subsequently broke after the new ISI Director-General Lieutenant-General Javed Ashraf Qazi decided to transfer the intelligence fund back to state owned banks as per official rules. Mehran Bank was unable to return the money due to its poor financial state and collapsed. It was later discovered that large sums had been siphoned off to 39 fictitious parties. In 1995, Mehran Bank was amalgamated with the National Bank and in 1996 the NBP had to make full provision for Mehran's liabilities which resulted in a net loss that year to the bank of Rs 1.260 billion. On April 20, 1994, giving details about the payments made by Mr Habib to generals, politicians and political parties, the then Interior Minister, Naseerullah Babar, told the National Assembly that the main beneficiary of his largesse was former army chief General Mirza Aslam Beg who received Rs140 million. Yunus Habib was arrested on April 7, 1994 for misappropriation in the sale proceeds of the Dollar Bearer Certificates. On Dec 14, 1995, Younus Habib was convicted of fraud and embezzlement and given a sentence of 10 years rigorous imprisonment by the Special Court for Offences in Banks in Sindh.
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