Overview
- The FIR was registered on October 29 by the FIA Anti-Corruption Circle in Islamabad, naming Shabbar Zaidi, several FBR officials, and bank executives.
- Investigators allege refunds were processed without proper authorisation during Zaidi’s tenure from May 2019 to January 2020.
- The FIA report lists three banks, two cement manufacturers, and one chemical company as beneficiaries of the disputed refunds.
- The case cites offences under the Anti-Corruption Act, 1947, and the Pakistan Penal Code with approval from the competent authority.
- Zaidi has not publicly responded as the FIA gathers documents and statements, with agency sources indicating further arrests could follow depending on the findings.