THE report by Khaleeg Kiani of a meeting of the Senate Stating Committee on Finance and Revenue (Aug 20), on the alleged misuse of the term `politically exposed persons` (PEPs) by the banks, throws further light on the deteriorating moral standards in Pakistan.
The reportstates thatSenator Mandviwala narrated the case of a person who introduced himself as a teacher to openan account with a bank after being denied this privilege because he was a politician`s son! I request the Senator to name this person ashe has actedin afraudulent manner and concealed his identity.
The same report further informs that the SBP Deputy Saeed Ahmed informed the committee about his difficulty in transferring $10,000 from one bank to another within Pakistan. Though it is legal for Pakistani citizens to maintain foreign currency accounts (I too have one), it is certainly not proper for the custodians of the Pakistani Rupee to have one. It sends a strong signal to citizens about the value of our currency.
