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National Bank of Pakistan president moves for acquittal in corruption case

National Bank of Pakistan President Saeed Ahmed petitioned to be acquitted as a co-accused in corruption charges against former Finance Minister Ishaq Dar, Dawn reported May 30.

Ahmed's counsel filed an application for charges to be dropped against the bank president, arguing that allegations leveled against Ahmed could not be substantiated by witnesses from the prosecution. Ahmed's lawyer also pointed out that a court has already dropped charges of corruption and corrupt practices against Ahmed.

Ahmed had been charged alongside Dar for allegedly opening up accounts that were used by Dar to launder money.

The accountability court of Islamabad began proceedings against Ahmed in March, Dawn reported March 1. The National Accountability Bureau claimed that Ahmed had allowed Dar to open and use bank accounts under Ahmed's name for the benefit of Dar and his companies. Dar was accused of obtaining 482.8 million Pakistani rupees and US$4 million through illegal means.

As of May 30, US$1 was equivalent to 115.60 Pakistani rupees.