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Pakistan FIA raids National Bank in Karachi; arrests VP over alleged dollar smuggling

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In a bid to stem bolstering smuggling activities in the country, the Federal Investigation Agency (FIA) of Pakistan on Saturday raided the National Bank of Pakistan (NBP) in Karachi, Samaa News reported. Following the raid, the federal agency nabbed one of the vice presidents (VP) of the nationalised bank for alleged involvement in hoarding and smuggling dollars. Three bank officials, including a woman, fled the office before the raid, Samaa added.

The Saturday raid is said to be a part of a wider crackdown by FIA aiming to limit skyrocketing smuggling activities following a sharp decline of the Pakistani rupee against the US dollar. 

FIA nabs 8 involved in alleged dollar smuggling

Meanwhile, on Tuesday, the federal agents raided money exchange offices in Saddar and Gulshan-e-Iqbal areas of Karachi and arrested eight people associated with money smuggling. As per Samaa News, an amount of $36,394 and other foreign currencies worth Rs. 3…

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