Bank Al Habib customers lose billions of rupees to fraud in Faisalabad

Faisalabad: The Federal Investigation Agency (FIA) is investigating a bank fraud involving billions of rupees.

Sources said that multiple branches of Bank Al Habib are involved in the fraud which saw hundreds of customers lose more than Rs5 billion.

They said that Area Manager Raja Ammar Kiyani fled to the United States after allegedly robbing over 500 customers of their money.

The sources said that some other staff members of the bank also vanished after the fraud was detected by authorities.

They said that the fraud involved parallel banking and the suspects somehow managed to give customers profits for months to attract more depositors.

The suspected staff members got Schengen visas and tickets and fled Pakistan before the authorities took notice of the fraud.

The sources said that more bank customer are approaching the FIA with complaints.

Bank Al Habib bosses flew into Faisalabad as soon as the scandal was detected.