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Sharifs Qatari defender Hamad bin Jassim named in Paradise Papers

Haider Ali 02:23 PM | 6 Nov, 2017
Sharifs Qatari defender Hamad bin Jassim named in Paradise Papers
DOHA - Hamad bin Jassim bin Jaber Al Thani, the former prime minister of Qatar, is also among the individuals named in the latest treasure trove of Paradise Papers.

Uncovered by the International Consortium of Investigative Journalists on Sunday, the latest documents blew the lid off  several global notables including Queen Elizabeth II of England and US Secretary of State Rex Tillerson but another renowned politician named in the papers is Prince Hamad bin Jassim bin Jaber Al Thani.

Though Jassim might be of ordinary importance for international community, but for Pakistan, he is not an unknown face as he became the central figure to investigations triggered in the country in the backdrop of Panama Papers revealed last year.

The Qatari prince hit headlines in the country when a letter attributed to him by the then ruling Sharif family was submitted in the Supreme Court.

The letter that appeared as a 'straw' to the embattled Sharif family suggested that Jassim's elders had business terms with the father of the then Pakistani Premier Nawaz Sharif and the business ties eventually led to the purchase of upscale Avenfield House flats in London.

The letter dubbed 'Qatari Letter' was submitted on Nov 15 by the counsel for Nawaz Sharif, Akram Sheikh.

The letter addressing the apex court stated that in 1980, Mian Muhammad Sharif (Nawaz Sharif’s father) invested 12 million Dirhams in the Al Thani company belonging to the Qatari prince’s father.

“In the year 2006, the accounts in relation to the above investment were settled between Hussain Nawaz Sharif and Al Thani family, who then delivered the bearer shares of the companies referred in para 4 above to a representative of Hussain Nawaz Sharif,” the letter read.

In January 2017, another letter attributed to the same prince was furnished before the top court explaining that the investment quoted in first letter was 'made by way of provision of cash, which was a common practice in the Gulf region'.

Much to the dismay of Sharif family, the letter was termed a 'myth' by the Joint Investigation team formulated by the Supreme Court in the aftermath of April 23 order.

Apart from rejecting the letter, the members of the inquiry panel ruled that the ruling family had never invested 12 million Dirhams in the Qatari royal family’s business.

Following investigations, the JIT termed the contents of both Qatari letters ‘hearsay’ and contradictory in nature, stating the “prince did not mention how, when and from whom he learnt about this [investment in Qatar].”

In the fresh Paradise papers revelations, Qatari Prince, Hamad bin Jassim bin Jaber Al Thani is named among the Qinvest LLC Board members.

The QLearn, a subsidiary of Qatar’s Qinvest sold 19,52,907 shares of Indian coaching class giant FIITJEE but through offshore Mauritius.

Prior to Paradise Papers, the Qatari Prince was also named in the Panama papers that dethroned the Pakistani Premier Nawaz Sharif.

Haider Ali

The writer is a civil servant.

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Today's currency exchange rates in Pakistan - Dollar, Euro, Pound, Riyal rates on May 29, 2023

KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on May 29, 2023 (Monday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 307.9 311.15
Euro EUR 330 333
UK Pound Sterling GBP 381 384.5
U.A.E Dirham AED 84.6 85.4
Saudi Riyal SAR 82.6 83.4
Australian Dollar AUD 201 203
Bahrain Dinar BHD 762.21 770.21
Canadian Dollar CAD 225.5 227.5
China Yuan CNY 40.6 41
Danish Krone DKK 41.39 41.78
Hong Kong Dollar HKD 36.6 36.95
Indian Rupee INR 3.47 3.58
Japanese Yen JPY 2.15 2.20
Kuwaiti Dinar KWD 932.2 941.2
Malaysian Ringgit MYR 62.42 63.02
New Zealand Dollar NZD 176.98 178.98
Norwegians Krone NOK 26.14 26.44
Omani Riyal OMR 744.58 752.57
Qatari Riyal ‎QAR 78.73 79.43
Singapore Dollar SGD 215 217
Swedish Korona SEK 26.73 27.03
Swiss Franc CHF 316.34 318.84
Thai Bhat THB 8.28 8.43

Today's gold rates in Pakistan – May 29 2023

KARACHI - The price of a single tola of 24-karat gold in Pakistan is Rs 235,800 on Monday. The price of 10 grams of 24k gold was recorded at Rs202,160.   

Likewise, 10 grams of 22k gold were being traded for Rs163,624 while a single tola of 22-karat gold was being sold at Rs 190,880.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 235,800 PKR 2,505
Karachi PKR 235,800 PKR 2,505
Islamabad PKR 235,800 PKR 2,505
Peshawar PKR 235,800 PKR 2,505
Quetta PKR 235,800 PKR 2,505
Sialkot PKR 235,800 PKR 2,505
Attock PKR 235,800 PKR 2,505
Gujranwala PKR 235,800 PKR 2,505
Jehlum PKR 235,800 PKR 2,505
Multan PKR 235,800 PKR 2,505
Bahawalpur PKR 235,800 PKR 2,505
Gujrat PKR 235,800 PKR 2,505
Nawabshah PKR 235,800 PKR 2,505
Chakwal PKR 235,800 PKR 2,505
Hyderabad PKR 235,800 PKR 2,505
Nowshehra PKR 235,800 PKR 2,505
Sargodha PKR 235,800 PKR 2,505
Faisalabad PKR 235,800 PKR 2,505
Mirpur PKR 235,800 PKR 2,505

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