Daily The Business

Allied Bank Kalma Tower Fire incident

Import, Export, Foreign Trade, BSG department badly damaged

Senior bankers smell a rat as they say int’l trade deals in heavy
foreign exchange transaction

M Jahangir Hayat

LAHORE: Three major departments at the Allied Bank Limited (ABL) Head
Office Kalma Tower sixth floor has been badly damaged by the fire
erupted due to a short circuit on Sunday morning, Daily The Business
has learnt.

The department included Import and Export, Foreign Trade and Banking
Services Group that maintain record of international trade and foreign
exchange, sources disclosed.

“It was a horrible fire and it produced a tower of black smoke that
could be seen for miles,” eye witnesses said.

They said that after the struggle of one hour the fire fighters
succeeded overcoming the fire.

On the other hand, the sources said fortunately no major causality has
taken place as it was a holiday on Sunday.

However, they raised a question smelling a rat as how a fire can erupt
on a holiday due to short circuit when electricity load is usually
equal to nothing, they said.

It seems that the bank management wants to hide something relating to
the heavy foreign exchange transaction as Pakistani banks had been
engaged in money laundering and a few banks including Habib Bank
Limited has also been fined, senior bankers on the condition of
anonymity told this scribe.

They said that the incident must be probed to reach to the exact loss
and safety of the important record.

When contacted Allied Bank Limited Media and communication Head Azhar
Nasim was not available for his comment on the story despite repeated
attempts.

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