On Wednesday, Z2C, a private sector company, publicly addressed the ongoing investigation by the Federal Investigation Agency (FIA) involving one of its employees. The company emphasized that the individual in question was acting independently and not on behalf of the firm. This statement came in response to reports that Faisal, an employee of Z2C, was apprehended by the FIA’s Commercial Banking Circle on allegations of transferring substantial sums of money abroad through illegal hawala-hundi channels.
The FIA’s action followed information provided by a detained manager of a private bank, which led to Faisal’s arrest. Authorities suspect that Faisal was involved in unauthorized financial dealings that circumvent formal banking regulations. However, Z2C was quick to clarify that the investigation targets the employee personally and does not implicate the company itself in any wrongdoing.
In its official communication, Z2C stated that the transactions under scrutiny were not connected to the firm’s business operations, financial accounts, or client dealings. The company reassured the public and stakeholders that no company resources, including systems or funds, were involved in the alleged activities. This distinction was made to protect the company’s reputation and to underline its commitment to lawful business practices.
Furthermore, Z2C announced that it has taken immediate disciplinary action by suspending Faisal from all his responsibilities within the organization. This suspension will remain in place pending the conclusion of the legal proceedings and an internal investigation to fully understand the circumstances surrounding the case. The company expressed its intention to cooperate fully with the FIA and any other relevant authorities throughout the investigation process.
It is important to note that Z2C operates as a fully regulated entity, adhering strictly to financial laws and regulations. The company highlighted that all its monetary transactions are conducted transparently through authorized banking channels, ensuring compliance with national and international financial standards. This incident, Z2C, is an isolated case involving an individual acting outside the scope of the company’s policies and procedures.
As the investigation continues, Z2C remains focused on maintaining its integrity and upholding the trust of its clients and partners. The company’s swift response and cooperation with law enforcement agencies demonstrate its commitment to accountability and the rule of law in Pakistan’s financial sector.
