The State Bank of Pakistan (SBP) cannot release profit linked to foreign currency accounts confiscated in 1999 until the court decides the matter, SBP Governor Jameel Ahmad told the Senate Standing Committee on Finance and Revenue.

The issue was discussed during the committee’s meeting on the long-running dispute involving the accounts and the non-payment of profit.

Jameel said the case is currently pending before the court, leaving the central bank unable to take further action until a judgment is issued. He added that four parties were involved in the matter.

Senator Talha Mahmood said a significant amount had remained stuck for years and called for the issue to be resolved without further delay.

Committee Chairman Saleem Mandviwalla also stressed the need for an early resolution of the matter.