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May 12, 2018

SBP seeks security officials’ help to curb forex smuggling

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May 12, 2018

KARACHI: The central bank sought help of security officials to check suspicious inland movement of foreign currencies to curb their smuggling or use in terror financing as Pakistan is feared to be put on the ‘grey list’ of the Financial Action Task Force (FATF) in June this year, sources said on Friday. Well-placed sources told The News that the State Bank of Pakistan (SBP) wrote letters to the Federal Investigation Agency, Federal Board of Revenue and other border agencies to take appropriate action in accordance with the law to keep vigil on inland movement of cash foreign currencies in bulk by unauthorised individuals or entities. —P15