Pakistan

No leniency to 'hawala' business: Rehman Malik

Malik says money launderers to be dealt with, inaugurates Crisis Management Cell at KCCI.

February 19, 2011

KARACHI: Interior Minister Rehman Malik on Saturday said that the government will take all measures to curb the menace of money laundering in the country.

"Had legal channels been used, the country could have got billions per month through banks," he said while addressing the members of the Karachi Chamber of Commerce & Industry (KCCI) on the occasion to inaugurate the Crisis Management Cell at the Chamber.

Malik said that the government had studied all the pros and cons and the modus operandi of the people involved in the 'Hawala' or money laundering business.

"The government wants to give an opportunity to those people involved in the Hawala business to be legalised and do the job through a proper channel," he added.

He said that Hawala remittances detected by the government would be seized

At the inauguration ceremony of the Crisis Management Cell at KCCI, Malik said that the cell would help look after the grievances of the business community.

He said the Cell would have representatives of the KCCI, Police and Federal Investigation Agency (FIA) to receive complaints regarding cases of kidnappings for ransom, extortion and any other issues pertaining to the business community.

KCCI president Saeed Shafiq also addressed the gathering on the occasion while all members of the managing community also present on the occasion.

COMMENTS (4)

Tony Singh | 13 years ago | Reply @Darkstar: Can't ask them when he is guest in your house.

Darkstar | 13 years ago | Reply D-company and dawood gang only exist in the fanciful imaginations of the indian media. If DI is such a menace, why don't you ask the UAE to hand him and his associates over? As for targeting money changers, this is usually done to pressurize them into giving certain government officials huge bribes to let them continue their businesses. The same thing happened to Pakistan's biggest money changer Khanani and Kaalia, when they refused corrupt government officials' demands for a cut and had their businesses destroyed. It is the same money changers/hawala dealers that the government keeps going to in order to buy foreign exchange regularly, something htat has been happening since 1998. The government has taken us to the brink of an economic/social collapse because of it's ineptness, and is chasing this red-herring of targeting hawala dealers. The government always raises such non-issues to deflect attention from their mis-governance.

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Singh | 13 years ago | Reply Actions will speak louder than words .D company,dawood gang ,JUD are using hawala to get money.So are your corrupt industry

Meekal Ahmed | 13 years ago | Reply Why is he targeting the hawala remittances when remittances through normal banking channels are surging and can expect to reach a new record this year? I think they are up 17% y-o-y. Sure plenty of money laundering is taking place and re-entering the country in the guise of "workers' remittances" and hence no tax and no questions asked. But Pakistan has an anti-money laundering law on the books. Use it.

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