Bank Islami Pakistan Limited (BIPL) and Elahi Group of Companies (EGC) / Zafar Agencies (ZA) have filed a compromise agreement in the Honourable Sindh High Court through which all liabilities will be settled and full closure and withdrawal of all pending complaints and litigation has been agreed on a no-fault basis between the parties; accordingly, the matter stands fully resolved.

Both parties express their disappointment that a commercial dispute got dragged in with the law enforcement agencies; and both parties shall make concerted efforts to facilitate each other and further strengthen their relations”