PESHAWAR: The Federal Investigation Agency’s commercial banking circle arrested three persons for running illegally currency exchange Hundi-Hawala during different raids carried out in the provincial capital.
Officials said a team carried out a raid in Chowk Yadgar on Saturday and arrested Muzammal, and recovered Rs4.6 million, 500 Malaysian Ringgit, $11, 125 UAE Dirham and four million Japanese Yen from him.
They added Hundi-Hawala receipts were also recovered from him.
FIA deputy director Afzal Khan Niazi told Dawn the accused was charged under relevant sections of the Foreign Exchange Regulations Act, 1947.
He said on Tuesday, two persons were arrested in a similar raid and over Rs14 million were recovered from them.
He said Rs8.5 million were recovered from Mohammad Qasim and Rs5.6 million from Mohammad Sajjad.
Mr Niazi said the FIA team also recovered Hundi-Hawala receipts from the accused persons.
Published in Dawn, September 3rd, 2023
