The Federal Investigation Agency (FIA) has formed a high-level team to investigate allegations levelled by the Panama joint investigation team (JIT) against the Securities and Exchange Commission of Pakistan (SECP), sources within the FIA told DawnNews on Wednesday.

The six-member JIT probing allegations of money laundering against the Sharif family made startling allegations accusing government institutions and departments of tampering records, creating obstacles in the probe and even threatening its members in an application to the Supreme Court.

Read more: Panama Papers JIT levels startling allegations against govt, seeks strict court action

Formed by the acting director general of the FIA in response to the Supreme Court's order, a four-member investigative committee will look into the JIT's allegations.

Explore: SECP, FBR, law ministry reject JIT's allegations of evidence tampering

The committee will be headed by the Anti-Corruption Wing Headquarter Director Maqsood Al-Hassan and will also include deputy directors Hazrat Ali Ayaz Khan and Tahir Tanveer.

Acting DG FIA Ahmed Latif has sent a list of names for the committee to the Ministry of Interior for approval.