Khanani and Kalia International (Private) Limited
 | |
| Private Limited | |
| Industry | Aiding |
| Founded | July 1983 |
| Founder | Hanif Kalia |
| Headquarters | Karachi, Pakistan |
| Products | Financial services |
| Parent | Kalia Group |
| Website |
Official website of KKI KKI financial services kaliagrouppk.com |
Khanani and Kalia International (Private) Limited (KKI) was one of the biggest foreign exchange companies in Pakistan until November 2008 when it was closed down by the Pakistan government as part of the Pakistan Forex Scam Case. The company was investigated by the Federal Investigation Agency and the State Bank of Pakistan revoked its license.
KKI was part of the Kalia Group of companies founded by Hanif Kalia and run by Hanif's younger brother Abdul Kalia. Its corporate head office was in Karachi and it had a franchise of branches all over Pakistan plus a number of branches overseas.
History
The company was founded in 1983, by Hanif Kalia, a well known businessman, educationalist and social welfarer. Its corporate office was in Karachi and its international marketing and commercial services head office in Pakistan. Mississauga, Canada.
Pakistan Forex Scam Case
In November 2008, KKI became part of the Pakistan Forex Scam Case when the Pakistan government started investigations into the company and arrested its management team. In response the State Bank of Pakistan revoked KKI's license to operate its forex business forcing then company to shut down all its branches.[1][2]
On March 5, 2011, the directors of Khanani and Kalia International and four bankers were acquitted of all charges due to lack of evidence.[3] However the FIA complained about the acquittal and said it had provided enough evidence. In response the Supreme Court of Pakistan had an independent judge investigate the acquittal.[4][5]
Operations
KKI offered a number of services including currency exchange, home remittance, outward remittance and business administration. The company had branches in Karachi, Lahore and Islamabad, and a franchises networked all over Pakistan. The company also had foreign branches in London, Glasgow, Sydney, New York, Toronto, Montreal, Scarborough, Vancouver, Kuwait City, Bahrain, and Qatar.
KKI was part of the Kalia Group which also provided services including management consultancy, internal auditing, IT management, HR management, business administration, marketing, and R&D on behalf of clients. In addition the group had a number of related companies which included;
Kalia Security Vault Corporation
In 1999 Kalia Group launched security vaults (Lockers) services with the establishment of Kalia Security Vault (Pvt) Ltd.
Kalsoft
KalSoft (Pvt.) Ltd was incorporated in 1999 while it started its commercial operations in the year 2000. The basic aim of this project was to explore the international software market and thus the emphasis was laid on Software Exports. KalSoft specializes in B2B, B2C and C2C software development.
KalPoint.com
Kalia Group was established as s socio-commercial organization KalPoint.com. It is a C2C e-commerce portal with over 35 categories and over 60,000 web pages. It has claimed to be the largest interactive portal in Pakistan and was declared as Pakistan’s best website by the leading IT magazines in 2009.
See also
References
- ↑ http://www.geo.tv
- ↑ "Kalia group chairman arrested". Dawn.com. November 29, 2008.
- ↑ "Hawala case: Khanani and Kalia acquitted". The Express Tribune. March 5, 2011.
- ↑ "Khanani and Kalia: Acquittal being investigated by SHC". khabrain. March 14, 2011.
- ↑ "Khanani and Kalia case – Judge asks FIA DG to submit evidence". PakistanToday. March 10, 2011.