ISLAMABAD: Another big financial scam is unearthed in which the top management of United Bank Limited (UBL) and National Bank of Pakistan(NBP) have put Rs 12 billion in their pockets in connivance with each other .

The investigating agencies have received some solid evidence against about 160 bankers hailed from State Bank of Pakistan , UBL  and NBP. The reliable sources told this scribe that the Chief Executive Officer (CEO) of UBL Wajahat Hussain , who is now in Switzerland to attend a conference. The bank has hired the services of high official of HBL Seema Kamil to replace Wajahat.

Some of the top officials of a big financial institute  UBL were taken into custody last night  and the bank administration have dismissed their services. The sources said that the investigation is underway against 160 bankers n the scam of Rs 12 billion  in which NBP and some other banks are also involved in the scandal.     

When Online tried to contact the top officials of UBL to know their point of view on the matter however no response was received from them,whereas the administration of  National Bank of Pakistan has also kept quiet on the issue.

The sources said that the law enforcing agencies(LEAs) are carrying the probe of the fincial scandal forward rapidly and it is very much likely that some more arrests might be taken place in the days to come.

The management of both the banks including NBP and UBL have closed their lip tightly deliberately to hide the scandal and the links of this scam  are connected towards State Bank of Pakistan.

As the investigation is going on scientific grounds so the  law enforcing agencies (LEAs) are keeping  the names of the bankers involved in it in secrecy. Some more people would be taken into custody in few days. .

Earlier  a gigantic dcam of Rs 18 billion was also revealed in National Bank of Pakistan and NAB is doing its investigation. , however it could not file the reference in the accountability court so far.

In this scam the officer of NBP deputed at Bangladesh were involved who gave the loans of Rs 18 billion to the Bangladeshi nationals without  any guarantee  and received heavy commission .

The standing committee of National Assembly  on Finance had instructed NAB and other investigation agencies  again and again to complete probe and to bring the  bankers involved in it to the justice .

The stories of plundering from banks have  become a routine, due to which the banks are losing confidence of the people , whereas National Bank of Pakistan and United Bank Limited have avoided to tell anything about the scandal even after contacting time and again.