UBL issues clarification against its president being placed on ECL


KARACHI: Recently, a false impression has been created in certain sections of the media that the President and CEO of UBL has been placed on the Exit Control List (ECL) due to an ongoing FIA Investigation and the related hearing in the Honourable Supreme Court of Pakistan. It is clarified that the Honourable Supreme Court of Pakistan has not issued any such order nor the name of the President and CEO of UBL has been included in ECL.

In addition, the FIA Investigation into the alleged fake accounts is proceeding and UBL is cooperating with the concerned agencies. UBL and/or any of its employees have not been named as accused in the FIR lodged by FIA in the matter. It is incorrect for certain sections to suggest or conclude that UBL is involved in any way in these alleged fake accounts. It is UBL’s policy to ensure that it meets the highest standards of regulatory compliance.