Share:The FIA has arrested 50 suspects for an illegal currency business in Lahore. Similarly, a few days ago, 4 illegal currency dealers were nabbed in Quetta for running an illegal money exchange business. These developments add weight to the fear around an illegal black market opening up for dollars, as insinuated by the finance minister, among others. Illegal money exchanges and practices outside the banking channel such as Hawala and Hundi hurt the stability of inter-bank market rates. We have also been recently removed from the FATF grey list so the country cannot afford a rise in currency smuggling operations.

Source: The Nation December 28, 2022 06:21 UTC