FIA Initiates Investigation Based on Complaint from Banking Officials

The Federal Investigation Agency (FIA) has launched an inquiry to examine the financial records of five individuals, including three women, associated with a private business entity. According to a letter issued by the FIA’s Commercial Banking Circle, inquiry number 98/2024 has been initiated following a formal complaint filed by officials from a local bank. The case involves directors and associates of M/s Denim and Clothing, identified as Farhan, Muhammad Hanif Machiyara, Maria Farhan, Iqra Hanif, and Aqsa Suleman Bawany. The inquiry follows a complaint lodged by officials of BankIslami Pakistan Limited. In response, FIA has requested banks to provide account opening documents, transaction records, bank statements, and details of any financial facilities availed before January 8, 2025. Additionally, banks have been asked to confirm whether these individuals maintain locker accounts and to submit records of transactions exceeding Rs100,000. Commercial banks have been directed to cooperate with the inquiry and provide the necessary information to assist in the investigation.