PESHAWAR: The Federal Investigation Agency’s (FIA) commercial banking circle (CBC) has arrested five persons allegedly involved in hundi-hawala business from Chowk Yadgar area here on Thursday.

According to FIA officials, a raid was carried out in the area following information about the illegal business, adding that the raiding team arrested five accused persons.

“We have recovered Rs30.2 million from the accused persons besides receipts used in hundi-hawala,” Deputy Director CBC Afzal Khan Niazi told Dawn.

Mr Niazi also stated that the team confiscated cell phones of the accused persons as well as documents, adding that they were being interrogated after being charged under the relevant sections of the law.

On Dec 11 last, the agency sealed four plazas in the same area for running illegal currency business. The plazas, according to FIA officials, were occupied by people involved in hundi business and currency smuggling, adding the plazas were sealed during a raid carried out jointly by officials of an intelligence agency and FIA.

Following the raid, CBC’s assistant director Shafqat Jamal had informed media persons that raids were being carried out to stop smuggling of dollars outside Pakistan, adding that foreign currency worth Rs666.180 million had so far been recovered during 2022.

Published in Dawn, February 10th, 2023