Published On: Mon, Jan 20th, 2014
Published in Category: Karachi

Billions of dollars being smuggled via airports: Governor SBP

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KARACHI: Governor, State Bank of Pakistan (SBP), Yaseen Anwar has said that billions of dollars are being illegally transferred from country though airports.

Talking to media on Sunday, reason behind devaluation of rupee in the country is illegal smuggling of dollars from the country. Smugglers of dollars are fleeing from the country from both land and air ways.

He said, 70 to 80 branches of the banks are operative in the border areas but despite of that illegal money changers established on the borders of Chaman and Torkham are transferring the foreign exchange.

Governor State Bank stated that central bank is taking action to prevent money laundering and in this regard an agreement will be also signed between State Bank and Federal Board of Revenue (FBR) very soon.

However, a Memorandum of Understanding (MoU) has been already signed between both parties. Under this MoU, Federal Investigation Agency (FIA) will take action against elements involved in money laundering on the identification of State Bank, he concluded.