The Federal Investigation Agency (FIA) on Thursday took Hussain Lawai, chairman of Pakistan Stock Exchange and a close aide of PPP co-chairman Asif Zardari, into custody, television reports said.

Last month, Lawai, was stopped by the FIA from leaving the country from Karachi’s Jinnah International Airport allegedly in connection with suspicious bank transaction worth billions of rupees.

Talking to The News at the time, Lawai did not say why he was stopped from leaving the country but confirmed that he was barred from going abroad. He said he was unaware as to why he was stopped from travelling abroad and was directed to approach the FIA's Karachi office for recording a statement and face an inquiry.

FIA at the time said Lawai was allowed to go home following an undertaking that he would appear before it to record his statement in relation to the inquiry.

Lawai has over 40 years of banking experience and has served as the CEO and President of Summit Bank Limited from November 2008 until February 21, 2016.

Lawai also served as the CEO and President of Atlas Bank Limited, MCB Bank, and country general manager Faysal Islamic Bank and Union Bank of Middle East.

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