A Federal Investigation Agency (FIA) anti-corruption team, led by a judicial magistrate, raided on Thursday four offices of a money changing enterprise, Al Sahara Exchange. They took into custody records of illegal transfers worth Rs90.5 million carried out via hawala and hundi and arrested the enterprise’s owner, Rehmatullah, and his son Ali Mehboob. During raids at offices on Burnes Road, II Chundrigar Road, in Clifton and Gulshan-e-Iqbal, the team also confiscated rupees, US dollars, euros, pounds, Canadian dollars, United Arab Emirates dirhams and Thai baht. Besides, it found messages pertaining to the transfer of funds on the arrested men’s mobile phones and laptops. The FIA has registered a case against the arrested persons, stating that they had been involved in illegal transfers via hawala and hundi as well as money laundering. Hawala and hundi refer to the use of unofficial channels of money transfers without the actual move of funds.
Published in The Express Tribune, September 11th, 2020.
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