FIA probes NBP loans to employees, recovery

ISLAMABAD: The Federal Investigation Agency (FIA) has initiated an inquiry into the matter of giving loans by the National Bank of Pakistan (NBP) to its own employees and then paying huge sums to lawyers for recovery of the loans.

The agency’s commercial banks circle has issued notice to the NBP’s compliance department over the double loss suffered by the bank and also asked it to spell out the measures usually taken by the management in such cases. The agency also wanted to know details...