former National Insurance Corporation Limited chairperson Ayaz Khan Niazi has been identified in the records in connection with four offshore holdings in British Virgin Islands.
One of them was a trust, Andalusian Discretionary Trust, while the other three were set up as companies: Andalusian Establishment Limited, Andalusian Enterprises Limited and Andalusian Holdings Limited.
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All the three companies were set up in 2010 when Niazi was the chairperson of National Insurance Corporation Limited.
In the record, however, Niazi’s two brothers, Hussain Khan Niazi and Muhammad Ali Khan Niazi, were shown as the beneficial owners, whereas Ayaz along with his father Abdul Razaq Khan and mother Fauzia Razzaq acted as directors.