FIA Cracks Down on Handi Handi Operation

Lahore (Chronicle) FIA Corporate Crime Circle has arrested 3 accused involved in the operation of the Handi Handi and seized domestic and foreign currency worth 8 crores under the cover of the suspended license of the accused Omega Currency Ekhinch. I was working while giving a press conference in this regard, and Director FIA Lahore Zone Sir Faraz Wark said that FIA has used American, Canadian, Australian, Turkish Lira, Saudi Riyal, Euro, Durham, and Pound. Two crore worth of foreign currency was seized, and the accused were operating on the circular road under the guise of a license that had been revoked for three years. Two employees and a brother of the main accused are among the arrested suspects. The accused admitted that they had been working as a swindler for three years. So far, 184 people have been arrested in 41 cases of swindlers, and 560 million have been recovered. The director of FI said that the suspects involved in the illegal business of currency from abroad will be brought home through a red warrant, and action will be taken against the Chinese mafia with the help of the police.

UBL’s announcement to open currency Chinese company

KARACHI (Report: Salman Siddiqui United Bank Limited (UBL) has announced to wind up its business in the UK and open a currency anchor company in Pakistan. With the approval of the director, it has announced to opening of a currency exchange company in Pakistan by selling its full 55% in UNBL in the UK. The value of the currency exchange company is estimated to be around one billion rupees. The currency exchange business has become a very profitable business in Pakistan for the last four years. Due to the interest in commercial banks increasing, Mohammad Abrar and Sana Tawfiq of Arif Habib Limited said that this decision will have a positive impact on UBL’s capital adequacy ratio. Risky assets should be subtracted from UBL’s balance sheet.

Open market value 300, dollar value difference in both markets 12 paise, increase in interest rate will also support rupee: Sources

KARACHI (Report: Ehtesham Mufti) Crackdown on the exporters selling their export earnings in foreign currency in the market, the reference handi and the elements involved in the illegal business of currency and the value of the dollar in the coming days is Rs 250. The dollar remained in reverse gear on Tuesday due to the forecasts of reaching the level of Rs. remained stable at the level of Rs.300. At the close of business, the dollar closed at Rs 299 88 paise, down by Rs 1 28 paisa in the inter-bank market. But the dollar remained stable at the level of Rs 300 throughout the trading period in the open market, thus the difference in the value of the dollar between the inter-bank and the open market remained only 12 paise. Market sources say that a possible increase in interest rates will also indirectly support the value of the rupee. The news of the IMF’s rejection of the proposed revolving credit scheme for the gas sector and fears of a hike in interest rates in the new monetary policy remained bearish in the Pakistan Stock Exchange on Tuesday after volatility, with the index closing at 45,600. , 3 levels of 45700 and 45800 points fell, and 67% of share prices fell due to bearishness. While another 54 billion 19 crore 4 lakh 68 thousand 469 rupees of investors were sunk. The KSE 100 index closed down 357.33 points at 45508.40 points. Meanwhile, in the international bullion market, the price of gold per ounce decreased by 15 dollars to 1911 dollars, but the prices of tola and 10 grams of gold increased by 5600 rupees and 5058 rupees respectively in local bullion markets on Tuesday. of gold per tola as a result.