World Bank denies Sharif laundered $4.9 billion to India
What's the story
The World Bank has denied as "incorrect" the media reports in Pakistan that cited its report to allege that former Prime Minister Nawaz Sharif laundered $4.9 billion to India. Pakistan's top anti-corruption body, National Accountability Bureau, yesterday ordered a probe against the embattled former Prime Minister and others after reports of his involvement in the money laundering emerged in the media.
Reports
Media reports were incorrect: World Bank
The World Bank in a statement said, "In the past day, there have been media reports citing the World Bank's Remittances and Migration Report of 2016. These media reports were incorrect." "The report doesn't include any mention of money laundering nor does it name any individuals," it said after media reports cited its annual report for allegations that Nawaz Sharif laundered $4.9 billion.
Information
What did the World Bank's annual report state?
In its annual report, the World Bank's statement said that it estimates bilateral remittances between countries using the methodology summarized in the World Bank Working Paper 102 South-South migration and remittances by the authors of the report.