Shaukat Tarin

Pakistan - Finance Minister

About

Shaukat Tarin is a businessman who worked in the banking sector for more than 40 years. He first served as Pakistan’s finance minister from 2008 to 2010 under former Prime Minister Yousaf Raza Gillani and resigned to raise funds for Silkbank Ltd., a Pakistani commercial bank where he served as a board member. Prime Minister Imran Khan appointed Tarin finance minister again last April. In order to remain in office for more than six months, he will need to be elected to parliament by October 16, 2021.

Political Career

Minister of Finance and Revenue (2021-present)

Minister for Finance, Revenues, Economic Affairs, Planning and Statistics (2008-2010)

In The Pandora Papers

Tarin holds one offshore company, Triperna Inc., while three of his family members hold three others named Hamra Inc., Moonen Inc. and Seafex Inc. All four companies were registered in the Seychelles in 2014 to hold investments, according to the Pandora Papers. The records of all four companies are maintained by Tariq Fawad Malik, a financial consultant based in Dubai, who received company records and managed correspondence. According to Malik, the companies were set up as part of the Tarin family’s intended investment in a bank with a Saudi business. Malik told the ICIJ that, “as a mandatory prerequisite by [the] regulator, we engaged with the Central Bank of Pakistan to obtain their ’in-principle’ approval for the said strategic investment.” The deal didn’t proceed.

Tarin did not respond to ICIJ’s repeated request for comment. In a statement issued on the day of the Pandora Papers’ publication, Tarin said, “The off-shore companies mentioned were incorporated as part of the fund raising process for my Bank.”

Secrecy Jurisdictions

Seychelles

Secrecy Broker

At the heart of the Pandora Papers are 14 offshore firms that help clients establish companies in secrecy jurisdictions. This profile draws on leaked data from these providers:

AABOL

Discover this Power Player’s offshore connections.