FIA has opened an inquiry into a case involving suspected financial misconduct after receiving a formal complaint from senior officials at BankIslami Pakistan Limited. The matter is now under investigation by FIA’s Commercial Banking Circle and has prompted a request for records from all commercial banks in connection with five individuals.
The individuals named in the complaint are linked to a company identified as M/s Denim and Clothing. Those under scrutiny include Farhan, Muhammad Hanif Machiyara, Maria Farhan, Iqra Hanif and Aqsa Suleman Bawany. According to FIA sources, the complaint was submitted by BankIslami representatives Muhammad Shahid and Zubair Ahmed who have flagged suspicious transactions and potential misuse of financial services.
As part of the investigation, the FIA has issued formal communication to all commercial banks, asking them to provide verified banking details of the listed individuals. These include complete account opening forms, specimen signature cards, copies of national identity documents, debit and credit transaction records, and inter-bank transfer details up to the date of January 8, 2025.
Apart from this, banks have been instructed to disclose whether any of the five individuals maintain locker accounts or have been granted financial facilities, such as loans or credit limits. The FIA has also asked for photocopies of all individual transactions above Rs. 100,000 for review.
Branch managers have been directed to appear before the inquiry officer and cooperate fully, ensuring submission of all requested documentation in a timely manner.
The inquiry registered as case number 98/2024, is part of the FIA’s ongoing efforts to detect and prevent financial crimes. Authorities stated that further action would be taken based on the evidence collected during the probe and they remain committed to ensuring accountability in the banking sector.
