Zafar Hijazi during a court appearance earlier. Photo: Geo News 

ISLAMABAD: A court in Islamabad approved on Tuesday the bail application of former Security and Exchanges Commission of Pakistan (SECP) Zafar Hijazi.

The court, headed by special Judge Irum Niazi, ordered Hijazi to submit two surety bonds of Rs500,000 each.

Hijazi is accused by the Federal Investigation Agency (FIA) of tampering the records of Chaudhry Sugar Mills to favour then prime minister Nawaz Sharif?s case. The Supreme Court, hearing the Panama Papers case, had ordered FIA to conduct an inquiry against Hijazi.

At the last hearing, the court had reserved its verdict Hijazi?s post-arrest bail application. The former SECP chairman, said to be suffering from several ailments, is presently in Adiala Jail, Rawalpindi on judicial remand.