The company was founded in , by Hanif Kalia, a well known businessman, educationalist and social welfarer. 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. On March 5, , the directors of Khanani and Kalia International and four bankers were acquitted of all charges due to lack of evidence. Hanif Kalia Khanani brothers.
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