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FIA raids National Bank head office, arrests VP

Another three bank officials, including a woman, fled

SAMAA | - Posted: Oct 16, 2021 | Last Updated: 1 month ago
SAMAA |
Posted: Oct 16, 2021 | Last Updated: 1 month ago

Photo: National Bank

The Federal Investigation Agency (FIA) officials have raided the head office of the National Bank of Pakistan (NBP) in Karachi and arrested one of the vice presidents, SAMAA TV reported on Saturday night.

The FIA team is probing the hoarding and smuggling of dollars.

Another three bank officials, including a woman, fled before the raid, the TV said.

When contacted for comments, an NBP spokesperson said they were unaware of the raid.

The raid is said to be part of a wider crackdown against the hoarding and smuggling of dollars. The FIA officials on Tuesday raided the offices of a money exchange company in Saddar and Gulshan-e-Iqbal areas of Karachi and arrested eight people.

They also seized Rs7.6 million, $36,394 and other foreign currencies worth Rs3 million from their custody.

The federal government has adopted several measures to stem the steady the decline in the value of the Pakistani rupee against the US dollar but in vain.

The alleged hoarding and smuggling of dollars has led to further rupee depreciation.

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FIA raids National Bank of Pakistan, dollar smuggling, dollar hoarding, dollar crackdown, National Bank VP arrested,
 
 
 
 
 
 
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