FIA seizes over Rs1bn in foreign currency from illegal exchange operators; three arrested

The Federal Investigation Agency (FIA) arrested three people in Multan for operating an illegal currency exchange and recovered foreign currency worth over Rs one billion from their possession, reported 24NewsHD TV channel on Wednesday.

According to an FIA spokesperson, the team seized 690,000 Saudi Riyals and 215,000 Euros during the operation. The total value of the recovered foreign currency is estimated at Rs 10,63,00,000.

The suspects, identified as Hamza Umar, Muneeb, and Iman Afzal, are accused of facilitating unauthorised foreign currency transactions. The FIA has initiated an investigation to uncover the extent of their operations and any potential networks involved.

Reporter: Ahmad Khan Babar