LAHORE: The Federal Investigation Agency (FIA) has arrested two people for their alleged involvement in illegal currency business.

The FIA said on Monday that its team raided a currency exchange company in main market Gulberg on the charges of doing hawala and hundi and recovered Rs15 million local and foreign currency.

On the direction of FIA Director Mohammad Rizwan, proceedings for the cancellation of company’s State Bank licence had been initiated.

The agency has arrested two suspects Usman Ali and Abdul Majid and got a case registered against them and the company.

Published in Dawn, March 1st, 2022