FIA to act against only illegal traders, not registered ones: Umar

KARACHI: Forex dealers on Thursday called on Finance Minister Asad Umar, to apprise him about the difficulties they are going through, while doing business in Karachi, ARY News reported.

As per details, a delegation of forex dealers met Mr Umar, in Karachi today and briefed him about the problems they are facing in the metropolis.

Talking to the delegation, the finance minister said exchange companies have been paying a pivotal role in the country’s development.

“Registered exchange companies have not to worry from the actions being carried out by the Federal Investigation Agency (FIA) aimed to burst illegal trading,” Umar said.

The foreign exchanges running their business within the boundaries of the law, will be provided. a legal cover, he assured the forex dealers.

He added that governor State Bank and the DG FIA have been asked to plan a strategy in this regard.

Umar vowed that actions against illegal money changers, exchanges involved in ‘hawala, hundi’ to continue.

Related: PM Khan directs FIA for comprehensive action against ‘hundi’ business

Prime Minister Imran Khan, back in the month of December, had ordered to launch comprehensive crackdown against ‘hawala, hundi’ business and individuals, buying properties abroad.

The prime minister had directed FIA to take action against those involved in ‘hawala, hundi’ [illegal money transaction] business and purchasing properties abroad through illegal means.

FIA was ordered to keep its offices 24 hours open in Karachi while teams were formed for action against bitcoin and sell of illegal cards of foreign tv channels.