Explanation

A case was registered against Hijazi on the orders of the Supreme Court after the three-member Panama Papers case implementation bench acted on the JIT report. A local court in Islamabad sent the former Securities and Exchange Commission of Pakistan (SECP) chairman Zafar Hijazi on a 14-day judicial remand to Adiala Jail on july 29. local court in Islamabad granted Zafar Hijazi, the former chairman of Securities and Exchange Commission of Pakistan (SECP), post-arrest bail against two surety bonds worth Rs1 million on 8 august 2017. Judge Irum Niazi granted Hijazi bail in the Chaudhry Sugar Mills record tampering case after the payment of the surety bonds.