World Bank denies reports of Nawaz Sharif laundering $5 billion to India
Lahore : The World Bank on Tuesday denied claims made in media reports about allegations that former prime minister Nawaz Sharif laundered $5 billion to India.
On Tuesday, there have been dozens of media reports that claimed World Bank's Remittances and Migration Report of 2016. These media reports were incorrect, the World Bank said in a statement.
The World Bank's Remittances and Migration Report is an effort by the World Bank to estimate migration and remittances numbers across the world, it said.
In the World Bank report, there is no mention about any kind of money laundering and also does not name any individual in it.
In its annual report, the statement said that the World Bank estimates bilateral remittances between countries using the methodology summarised in the World Bank Working Paper 102 South-South migration and remittances by the authors of the report.
The World Bank also backed their claim with a statement issued by the Bank of Pakistan which rejected estimates of $4.9 billion in remittances from Pakistan to India on September 21, 2016.
