Karachi: (Aftab Channa)The Sindh High Court Monday extended bail to the former president of the National Bank of Pakistan (NBP) till July 31st.

A two-judge bench headed by Chief Justice Ahmed Ali M Shaikh adjourned the hearing after it was informed to the apex court that the counsel for the applicant was busy and could not turn up before it.

The court directed the counsel for the applicant Mr. Ali Raza to come prepared at the next hearing to forward arguments on the bail petitions.

The court had granted bail to Ali Raza upon submission of surety bonds of Rs 500,000.

The former NBP president had approached the high court fearing his arrest by the National Accountability Bureau in connection with an inquiry regarding corruption in the NBP in Bangladesh.

The petitioner’s lawyer submitted that the inquiry was related to two bank employees, Zubair Ahmed and SM Jahanzeb, who were involved in illegal activities overseas, which caused losses worth Rs 17 billion to the national exchequer.

Raza denied his involvement in the scam, saying that being the president of the bank he was reliant on the group chiefs, who were suppose to check any irregularity on part of the 16,000 employees of the bank.

He told the judges that on August 21, 2015, a NAB investigation officer had issued him a notice to personally appear in connection with the investigation despite the fact he had left the organisation on January 14, 2011.