QUETTA: The Federal Investigation Agency (FIA) arrested two people on Thursday on charges of running an illegal foreign exchange business, including transactions in Hawala and Hundi.

The raids were conducted after the government satisfied itself that “financiers and sympathisers of militant organisations” usually took the Hawala and Hundi route for transfer of money.

The agency identified the suspects as Habibullah and Shah Mohammad.

The FIA claimed seizing a “huge amount” of local and foreign currency after raids on two shops in Mian Kandahari Bazaar following a tip-off that Hawala and Hundi transactions were being carried out under cover of currency trade .

The FIA team arrested two persons allegedly involved in illegal foreign currency business and seized Rs6.4 million in foreign currency from the two shops.

Pakistani currency totalling over Rs500,000 was also recovered.

Malik Hukamdad Khan, an FIA official, said: “The suspects arrested in the raid were involved in illegal foreign currency business of Hawala and Hundi.”

The FIA official said the Hawala/Hundi business was causing a “huge loss” to economy.

Published in Dawn, October 9th, 2015

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