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A verdict to
remove Sharif would have left his party in power but would,
nevertheless, have sparked turmoil at a time when Pakistan is
experiencing modest growth and improved security after years of
violence, and the civilian government and powerful military have
appeared to come to uneasy terms.
Pakistan's stock market jumped after the ruling with the
benchmark KSE 100 gaining almost 2 percent. Sharif is seen as
pro-business.
Two of five judges on the court bench recommended that Sharif
should step down but they were out voted.
The court ordered a joint investigation team be formed to look
into allegations around Sharif's children using offshore
companies to buy properties in London.
Sharif and his children deny any wrongdoing.
Police in riot gear surrounded the court in the capital,
Islamabad, as it delivered its verdict and some protesters urged
Sharif to step down with shouts of "Go Nawaz, Go Nawaz".
The Supreme Court agreed last year to investigate the Sharif
family's offshore wealth after opposition leader Imran Khan
threatened street protests following the leaking of the "Panama
Papers".
Documents leaked from the Panama-based Mossack Fonseca law firm
appeared to show that Sharif's daughter and two sons owned
offshore holding companies registered in the British Virgin
Islands and used them to buy properties in London.
Sharif told parliament last year that his family wealth was
acquired legally in the decades before he entered politics and
that no money was siphoned off-shore.
Khan's party said before the ruling that it would not launch a
new street movement if it was disappointed by the judgment.
(Writing by Tommy Wilkes; Editing by Robert Birsel)
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