NAB Contacts UAE Authorities for the Extradition of Malik Riaz and Son

ISLAMABAD: The National Accountability Bureau (NAB) has initiated efforts to bring property tycoon Malik Riaz and his son Ali Malik back to Pakistan from the United Arab Emirates (UAE). According to NAB sources, the bureau has reached out to UAE authorities for the extradition of the duo under international anti-money laundering laws and the Vienna Convention.

The property magnate, Malik Riaz, is believed to be untouchable due to his influential connections. However, NAB is pressing for his extradition on corruption charges related to his business dealings, particularly involving his company, Bahria Town.

A source familiar with the matter rejected claims made by the Pakistan Tehreek-e-Insaf (PTI) party, which stated that Malik Riaz had not been accused of corruption by British authorities. Referring to a November 2021 ruling by the Royal Court of Justice in the UK, the source clarified that British officials had indeed concluded that Malik Riaz and his son were involved in corruption and financial mismanagement within Bahria Town, which is regarded as Asia’s largest property development company.

In addition, UK’s Home Office had revoked Malik Riaz and his son’s visas following investigations by the National Crime Agency (NCA) and after reviewing the Supreme Court’s decisions on the Bahria Town cases. The UK authorities also considered reports of fake accounts used by Bahria Town and a Joint Investigation Team (JIT) report on illegal financial dealings.

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Earlier this month, NAB issued a statement announcing its decision to repatriate Malik Riaz to Pakistan and issued a warning to individuals considering investments in his UAE-based company, Bahria Town Dubai.

In 2018, Malik Riaz entered into a joint venture with the UAE’s Dhabi Group to launch a $20 billion real estate project in Dubai.