Will definitely explain my position publicly to my countrymen, Chairman SECP Mr. Zafar Hijazi

In a statement issued by Mr. Zafar Hijazi, he has shed some light on the ongoing investigations ivolving him. He said that, “I have explained my position to the FIA team, which was also reflected to some extent in a section of press. Since the inquiry proceedings are continuing, I am not supposed to give any version publicly. However, once the inquiry would be completed, I will definitely explain my position publicly to my countrymen.”

Further, he said “Here I would merely say that Anti Money Laundering proceedings and the proceeding under section 263 of the Companies Ordinance 1984 are entirely different matters and should not be mixed.  Secondly, a head of any organization cannot suppose to be aware of any deficiencies or short comings in a particular case file nor he can be considered responsible for any such deficiency or wrong doing. If this precedent of allowing subordinates to apportion blame for their omissions or wrong doings is allowed to be set, every subordinate officer may attribute his failings to the heads of organization.”