ISLAMABAD: In an effort to combat illegal forex trading and the smuggling of US dollars, the Federal Investigation Agency conducted raids on several shops located in Chowk Yadgar, which is Peshawar’s largest currency market.
FIA Deputy Director Afzal Khan Niazi reported the closure of over 45 shops in Peshawar, known as the “hub of illegal currency business.” He emphasized that no one can engage in foreign currency dealings without proper authorization from authorities.
Mr. Niazi stated that the crackdown on illegal forex trading was initiated by the FIA’s Commercial Banking Circle, with police and other law enforcement agencies accompanying their team.
Official says Rs102.27m also seized in Peshawar
The official mentioned that the FIA had shuttered currency shops in the provincial capital that were operating without licenses from the State Bank of Pakistan.
In the past 20 days, the FIA conducted over 27 raids, resulting in the arrest of 28 individuals engaged in hundi-hawala business. Additionally, they seized a total of Rs102.27 million in cash during these operations.
He said, “It’s a huge [currency] market, which is open to licensed operators only. Those without legal documents can’t do this business.”
Mr. Niazi confirmed that the FIA would maintain its crackdown on currency smugglers, hundi-hawala dealers, and illegal forex traders. They will actively pursue all offenders and also handle them appropriately in accordance with the law.
Officials disclosed that on December 12, 2022, the FIA’s Commercial Banking Circle had sealed four plazas in the Chowk Yadgar area due to illegal currency activities.
The FIA, in collaboration with an intelligence agency, conducted joint raids at these locations, suspecting their use for hundi-hawala trade and currency smuggling.
Arressted
The FIA’s Anti-Corruption Circle has arrested five employees of the National Database and Registration Authority (NADRA). There are allegations that they have assisted individuals in obtaining “forged” computerized national identity cards.
FIA issued an official statement which says, “The accused helped 59 people obtain identity cards.”
Following the rejection of their pre-arrest bail applications by Special Judge Rajab Ali Khan, the authorities took the accused Nadra employees into custody. The statement further mentions that these employees, implicated in two cases, are currently under investigation.
goods seized
Customs officials in Dera Ismail Khan have confiscated smuggled goods valued at Rs389 million in the Darazinda area of the district. The seizure included three trucks and five containers loaded with items such as tyres, yeast, cloth, welding electrodes, black tea, dry yeast, glassware, and plasticware.
The combined worth of the seized goods, vehicles, and containers amounted to Rs130 million.
The local police closely coordinated with this operation, and the anti-smuggling office in the Enforcement Division of the Collectorate of Customs in DI Khan has taken charge of the confiscated items.
An official stated, “This is the biggest smuggled goods capture in the history of the collectorate, both in terms of value and quantity, and one of the biggest recoveries made by the Pakistan Customs in the recent years.”
