As per local media reports, Lawai denied any wrongdoings during his statement recorded by the FIA on Wednesday, and said that he has not been accused of money laundering. Earlier on Tuesday, the Securities and Exchange Commission of Pakistan (SECP) directed Pakistan Stock Exchange (PSX) to remove Lawai as Chairman of the Board of Directors of PSX, amid the ongoing money laundering case. “In the interest of the public and the capital markets, the SECP has directed PSX to remove Lawai and appoint a new Chairman of the Board, while ensuring compliance with the regulatory requirements,” stated SECP, in a statement. Earlier, a judicial magistrate remanded on Saturday Lawai into FIA’s custody for four days. The next day, Supreme Court summoned Lawai and others involved in money-laundering through fake accounts. The court directed the FIA to produce the Chief Executive Officers (CEO)/President of three banks – Summit Bank, Sindh Bank and United Bank Limited before the court on July 12. Meanwhile, the Ministry of Interior had been ordered to place their names on Exit Control List (ECL), so that they could not leave the country. The court stated Rs7 billion equity amount that Summit Bank deposited in State Bank of Pakistan can’t be withdrawn without the permission of apex court. However, State Bank of Pakistan (SBP) said that Supreme Court’s order will not affect the depositors of Summit Bank, whose head is also summoned by SC.