Re: IK involved in money laundering: Kh Asif
The 1st right on your zakat is of your relatives and then come the neighbors, if you think that none of your relative or neighbor needs any zakat ( in Pakistan or abroad) then only you can look out side, and i believe no one in Pakistan can say that none of their relatives or neighbors qualify or do not need zakat…
As far as the allegation is concerned, earlier it was IK who was throwing stones left right and center, now it is PML-N who have decided to return the favor, it is dirty business, in Pakistan no party try to propagate their agenda, all of them depends on the mud-slugging, IK started it, doing it for last 3/4 years, and now when it matters the most, PML-N have played their cards…
SKMH, is a charitable trust, they can have endowment fund but why do they need a SPV in virgin Island for this transaction, why would they need someone with big BRAINs who would suggest that buying land in Muscat, Oman even back in 2007/2008 would be profitable??? yani this fund is lucky that they so far has lost only 60+% of the value and not all??? I am in muscat looking after the investment of my employer here from last 2 years, never heard of sugar land and here i believe i have met or heard about almost all the major investment and realestate houses..
Not that the endowment fund is wrong but the way the transaction has been carried out raises many eye brows, specially when the account of the Endowment is in Dubai and the company with whom the transaction has been made is Dubai based… why need Virgin Island company??? that is the first question i normally ask when any investment proposal presented. VI, Seychells and other tax havens normally are not good investment vehicles, specially in GCC… there was Bahrain based investment bank, who normally structure their deals in the name of companies registered in these countries and when shyt hit the fan, apart from the finance house every one was looking for their money and most of them are still looking and thinking what went wrong…
IK said, he invested on the basis of Capital guarantee, i donot know the details of Share Purchase Agreement in the deal but i do know, normally one can register a company with a paid up capital of US 1 Dollar where the authorize capital of same company can be USD 10 million.. i don’t know if that guarantee holds any value or not… does the guy can pay the amount back, is he financially that strong or does he have this much credibility that he car pay back the capital from the market which is short on liquidity???
The other thing which make deal fishy or somewhat questionable is the role of one of the member of trust, he sits there to watch the investment and then he get the investment in his own company… i think the related-party-interest clause applies here…
