Dubai leaks: Bajwa’s son responds to allegations

ISLAMABAD: In a recent development, the name of Ali Iqbal Bajwa, son of former Chief of Army Staff General Qamar Javed Bajwa, has surfaced in the leaked ‘Dubai Leaks’ documents, revealing offshore properties.

The project ‘Dubai Unlocked’ revealed the ownership of properties of the global elite in Dubai. The list includes political figures, globally sanctioned individuals, alleged money launderers and criminals. Pakistanis have also been identified on the list and their combined value has been estimated at around $11 billion.

The project has also revealed that former COAS General (r.) Qamar Javed Bajwa’s son Saad Siddique Bajwa also owned a luxurious two-bedroom apartment in an upscale area of Dubai in 2020.

The leaked data shows the property was initially purchased on February 18, 2020 for AED 2.35 million. Later the property was sold on December 27, 2020. The listed price of the property mentioned in the leaked data is AED 1.75 million.

Saad Siddique Bajwa bought the property from an investment company but later transferred it to his younger brother Ali Iqbal Bajwa who is the current owner of the property.

Responding to these allegations, Ali Iqbal Bajwa shared his transaction details with a media partner in the collaboration.

Ali Iqbal Bajwa confirmed he is the owner of an apartment in Building 5, City Walk, Dubai and that the apartment is currently mortgaged.

Dubai Leaks: Zardari’s children among Pakistanis own offshore properties worth over $11b

“The apartment was initially purchased, via a mortgage with Mashreq Bank Dubai, by my brother Saad Siddique Bajwa in February 2020. In December 2020, this apartment was transferred to me and since then I have been occupying it.”

He added that the property was declared in his brother’s tax returns with FBR in 2019-20, and since the property was transferred to his name in the second half of 2020, he has been declaring it in his tax returns with FBR from 2020-21 onwards.

“I have been working in the UAE since October 2017. Initially, I was employed by an oil company in Abu Dhabi from October 2017 to October 2019. Thereafter, I started working with a global management consulting firm from March 2020, and have been based in Dubai since then.

“The apartment value when purchased in Feb 2020 was AED 2,350,000. The down payment made for this by my brother was AED 1,000,000, with the remaining amount taken as mortgage from Mashreq Bank. When the apartment was later transferred to me, the appraised value was AED 1,750,000, of which AED 350,000 I paid as down payment and obtained a mortgage for AED 1,400,000 from Dubai Islamic Bank. This mortgage is currently still active.”

Ali Iqbal Bajwa also annexed supporting documents as evidence of his claim that the amount was sent through proper legal channels from his parents.

The documents include the bank statements and receipts of banking transactions, mortgage agreement, loan agreements with the banks, and tax returns of Saad Siddique and Ali Iqbal which show the property is declared with the tax authorities.