Shahid Jamil Riaz, the fifth suspect arrested by Pakistan in connection with the Mumbai terror attacks, will not be handed over to India for questioning.

"There is no possibility of Shahid Jamil Riaz being handed over to India for investigation or questioning," a diplomatic source said.

Pakistan's Interior Ministry chief Rehman Malik had formally announced the arrest of Riaz during a news conference on Monday.

While seeking more information from India on the November 26 attacks, Malik said Pakistan had arrested the Karachi-based Riaz for facilitating monetary transactions.

However, sources said Riaz was arrested much earlier by Pakistani investigators.

Documents presented in an anti-terror court in Rawalpindi indicated that he was arrested in Chakwal in Punjab province.

Riaz's name had first cropped up in Pakistan's probe into the Mumbai attacks in February when officials had named him for facilitating money transfers in Europe on behalf of the terrorists involved in the Mumbai attacks.

Riaz is currently in judicial custody. Pakistan has also arrested Lashkar-e Taiba Operations Commander Zakiur Rehman Lakhvi and three other LeT operatives Zarar Shah, Abu al Qama and Hamad Amin Sadiq in connection with the Mumbai attacks.