KARACHI, Dec 3: The Federal Anti-corruption Court here on Saturday granted bail to former National Insurance Company Ltd (NICL) chairman Ayaz Niazi in a case pertaining to the purchase of property in Dubai.

The court allowed him bail against a surety of Rs5 million in the alleged embezzlement case.

The former NICL chief is accused of having purchased the property at an exorbitantly high rate.

The co-accused in the case are already on bail.—APP