SECP Notices to Hajj Operators Over Ownership Records

The SECP notices to Hajj operators were issued on Friday, with the Securities and Exchange Commission of Pakistan sending show-cause notices to three tour operators allegedly linked to a close ally of Jamiat Ulema-e-Islam-Fazl (JUI-F) chief Maulana Fazlur Rehman over alleged gaps in their ownership records.

The notices give the companies 14 days to explain why they failed to submit details of their beneficial owners. The three firms are associated with Al Afuw Munazzam, a group reportedly linked to Mufti Abrar, a close ally of Fazl, and to members of his family and associates, according to reports.

No finding has been made against any of the companies. A show-cause notice is the first formal step, and the firms now have a chance to answer before the regulator decides what happens next.

The three companies named

The companies are Sajjad Travels and Tours, Al-Rehab International and Shukar-ul-Faizan Travels, and each faces a different allegation about its ownership records.

Al-Rehab International was served a notice for failing to submit the prescribed beneficial ownership information for 2023. Sajjad Travels and Tours must explain its failure to provide the required ownership records. Shukar-ul-Faizan Travels faces a notice over alleged non-compliance with legal requirements.

The regulator sought explanations from all three for their alleged failure to submit the required information about their beneficial owners, the real people who own or control a company.

Some reports spell his name as "Ibrar" rather than "Abrar"; this report follows the Tribune's spelling.

What the SECP notices to Hajj operators mean

A show-cause notice is not a verdict. It is a formal letter in which a regulator sets out what it believes went wrong and asks the other side to explain itself in writing. In this case, the companies have 14 days.

If the replies satisfy the SECP, the matter can close there. If they do not, the regulator can move to further action under the Companies Act 2017, which sets out penalties for companies that fail to file required returns and records. The notices deal with paperwork and disclosure, not with any finding of fraud.

The SECP has been tightening this area. It has moved against fake investment schemes and stepped up checks on how companies are registered and run, and in October alone it registered 5,003 new companies.

Why Hajj operators face these checks

Pilgrims pay large sums in advance, and they depend on the company they choose to arrange travel, lodging and rites in Saudi Arabia.

Under the Hajj Policy 2027–2030, a company can only sell private Hajj packages if it is incorporated under the Companies Act 2017, registered with the SECP and licensed under the Hajj and Umrah (Regulation) Act 2024. That chain of registration lets pilgrims check that the firm they are paying is a real, licensed business.

Ownership disclosure sits at the centre of that system. If a company does not file who its beneficial owners are, the regulator cannot tell who is actually running it. That is why a failure to file draws a formal notice rather than a quiet reminder.

Notices follow wider scrutiny

The notices come as Fazl has openly criticised the federal government over the imposition of emergency and governor's rule in Khyber Pakhtunkhwa, and the Tribune reported that he has found himself on the radar of different government authorities since.

Last week, the Capital Development Authority issued notices over alleged construction irregularities at his Islamabad residence and at seminaries linked to his party, according to the Tribune. Feature Pakistan earlier reported on a CDA notice served on Fazl's Islamabad home, and scrutiny of people around Fazl has widened in recent weeks.

The backdrop is the row over governor's rule in the province. The suspension of local government elections in Khyber Pakhtunkhwa is one dispute in that row, and the JUI-F recently lost a challenge when the Federal Constitutional Court rejected its appeal over a reserved seat.

None of that changes the nature of the SECP action. The notices are about company records, and they will stand or fall on whether the three firms met their filing duties.

What happens next

The three companies have 14 days to send their explanations, which the SECP will weigh before deciding on any further step.

If a company can show that the records were filed, or that there was a genuine reason for the delay, the notice may be withdrawn. If the replies are not accepted, the SECP can impose penalties under the Companies Act 2017.

For now, the episode shows how the registration system is meant to work: a company that wants to carry pilgrims must keep its corporate record in order. More detail is available from the SECP's own website.

Frequently asked questions

Which companies received the notices?

Sajjad Travels and Tours, Al-Rehab International and Shukar-ul-Faizan Travels. All three are Hajj tour operators, and all three were asked about their ownership records.

Who is Mufti Abrar?

He is described in reports as a close ally of JUI-F chief Maulana Fazlur Rehman, and the three companies are allegedly linked to him and to his family members and associates. Some outlets spell his name as "Ibrar".

What is beneficial ownership information?

It is the record of the real people who own or control a company. The SECP requires companies to file it so that ownership cannot be hidden behind nominees or front names.

What is a show-cause notice?

It is a formal letter from a regulator that sets out an alleged breach and asks the recipient to explain itself in writing within a set time. It is not a finding of guilt.

What happens if the companies do not reply in time?

The SECP can move to further action under the Companies Act 2017, which provides for penalties when companies fail to file required records.

Why are Hajj operators under the spotlight?

Under the Hajj Policy 2027–2030, only companies incorporated under the Companies Act 2017, registered with the SECP and licensed under the Hajj and Umrah (Regulation) Act 2024 can run private Hajj operations. Registration and ownership checks are part of that system.