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Pakistan’s Bank of Punjab Former CEO to Be Extradited

May 13 (Bloomberg) -- Hamesh Khan, the former chief executive officer of Pakistan’s Bank of Punjab Ltd., the nation’s biggest regional financial services provider, will be extradited from the United States tomorrow.

“Our personnel in the U.S. are scheduled to bring him to Pakistan tomorrow and he will be accompanied by the counselor of our embassy there,” Ghazni Khan, spokesman for the National Accountability Bureau said in a telephone interview from Islamabad.

Khan is charged in a scam in which Haris Steel Co. was granted a 9 billion rupee ($106.9 million) loan from the Bank of Punjab, without following the required procedures, according to a case being heard in the Supreme Court of Pakistan. Khan denies the charges, Mahmood A. Shaikh, his lawyer in Lahore, said by telephone today.

Pakistani and American courts have ordered Khan, a dual citizen of both countries, to be extradited to Pakistan where he is to be tried by a panel of judges.

Pakistan had to provide a written assurance to the U.S. that Khan will not be mistreated during interrogation.

Bank of Punjab’s share, which has fallen 22.5 percent this year, rose 1.1 percent to 15.11 rupees on the Karachi Stock Exchange today.

To contact the reporter on this story: Khaleeq Ahmed in Islamabad, Pakistan at paknews@bloomberg.net;

To contact the editor responsible for this story: Stephen Foxwell at sfoxwell@bloomberg.net.

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