PESHAWAR, Nov 21: The Federal Investigation Agency (FIA) on Sunday raided a shop in the Karkhano Bazaar and arrested a man for alleged involvement in foreign currency trade and Hawala business.

According to a press release, the FIA raided a shop suspected of illegally conducting the Hawala trade in the Shah Shopping Centre in Karkhano Bazaar and arrested Mohammad Ishaq, a resident of Kohat Road.

The FIA also recovered foreign currency worth millions of rupees, cheque books indicating huge money transactions to different foreign countries and papers related to the illegal trade, the press release said.

The accounts of those people whose cheque books were recovered from the shop would be sized after completing legal formalities. The city police have also arrested two persons who had snatched a passenger coach a few days ago from the Budhni area in the city suburbs, said a press release issued here on Sunday.

The police raided a house of Mohammad Akbar in Toda Khazana village and arrested him. Later the same team went to the Budhni area and arrested his accomplice, Taj Mohammad.

The police recovered the passenger coach on the information provided by both the accused. Two Kalashnikovs, two revolvers and a number of cartridges of these weapons were also recovered from their possession.

Separately, the police also netted two burglars namely Jamshed and Abdul Ghafoor and recovered item they had taken away from a school in Bazaar-i-Kalan here, said another press release issued here on Sunday.