https://arab.news/65xp5
- Malik Riaz Hussain, currently in UAE, is being investigated for alleged corruption, money laundering by Pakistan
- Anti-graft body chief says Pakistan in talks with UAE over Red Notice, vows to repatriate property tycoon and son
ISLAMABAD: Interpol has issued Red Notices for property tycoon Malik Riaz Hussain and his son at the National Accountability Bureau’s (NAB) request, the anti-graft body’s chief said on Wednesday, vowing that authorities will bring him back from the UAE to face charges of money laundering worth over Rs700 billion ($2.5 billion).
NAB is investigating Hussain in several cases in which he stands accused of money laundering and using state land for private housing societies. Hussain is one of Pakistan’s wealthiest and most influential businessmen, best known for being the chairman of the Bahria Town Limited real estate firm.
Hussain has consistently denied allegations of corruption and money laundering, saying that he is being pressured due to “political motives” and is facing financial losses as NAB pursues cases against his property development projects across Pakistan. Hussain has never spoken about who has been pressurizing though.
Riaz, who is currently residing in the UAE, was declared a proclaimed offender in the Al-Qadir Trust corruption case in 2024. The case involves allegations that former prime minister Imran Khan and his wife, during Khan’s premiership from 2018 to 2022, were gifted land by Hussain as a bribe for illegal favors.
“Interpol has issued red notices for Malik Riaz in money laundering and corruption cases on NAB’s request,” NAB Chairman Lt. Gen. (retd.) Nazir Butt told journalists in Islamabad.
Interpol is an intergovernmental body that facilitates worldwide police cooperation and crime control. A Red Notice is a request to law enforcement worldwide to locate and provisionally arrest a person pending extradition, surrender, or similar legal action.
“We are also taking up this matter with the government of the UAE and our team will bring back Malik Riaz and Ali Riaz soon,” Butt said, referring to the property tycoon’s son.
He added that Riaz is involved in money laundering worth more than Rs700 billion ($2.5 billion).
He said the anti-graft body was conducting investigations into several housing and development projects, among them Bahria Town. Butt said a total of 35 high-profile money laundering cases are currently being investigated by NAB.
IMF REPORT ‘HIGHLY BIASED’
Butt criticized the International Monetary Fund (IMF) and Transparency International (TI) for their criticism of key government institutions, saying they were portraying Pakistan in a negative light.
In its Governance and Corruption Diagnostic Assessment (GCDA) published last year, the IMF highlighted weaknesses in key Pakistani institutions and called for prioritizing a 15-point reform agenda to address vulnerabilities linked to heightened corruption risks in the country.
While acknowledging that NAB recovered Rs5.31 trillion ($18.8 billion) in 2023–24, the report noted the anti-graft watchdog could only secure 31 corruption convictions between 2022 and 2024, citing NAB’s own statistics.
Butt alleged that the report was compiled with unreliable data and “wrong assessment.”
“The IMF report is highly biased, and it is based on baseless data,” he told the media. “To me, this report is inconsequential.”
Butt also criticized TI, which said in a 2023 report that police and judiciary were among the most corrupt institutions in Pakistan.
He described TI’s data collection as being “dubious and unreliable.”
“These two institutions will not say anything good about Pakistan despite the historic progress we have made during the last few years,” Butt said.
He said corruption in Pakistan had declined by 20-25 percent over the past few years due to NAB’s efforts. Butt said the bureau recovered $22.19 billion last year, while in the first three months of the current year it recovered $10.6 billion.
He said the majority of these recoveries were made in the form of state land.
“This significant performance underscores NAB’s renewed strategic focus on high-value sectors, improved case management and strengthened inter-departmental coordination,” he said.
He said the anti-graft body is working on key land reforms that will be launched with the government’s support within two months.
“After these reforms, to be introduced within two months, it will be impossible for housing societies to cheat innocent people who buy property from these societies,” Butt said.