In a high-level meeting led by Federal Interior Minister Mohsin Naqvi and Finance Minister Senator Muhammad Aurangzeb, authorities have decided to initiate a wide-ranging crackdown on money laundering and hundi-hawala operations.
The discussion centered on taking strict action against prominent business figures and institutions suspected of illegally transferring money abroad.
Naqvi made it clear that no influential individual or organization involved in such activities would be spared.
Officials reiterated that all international money transfers must be conducted strictly through formal banking systems and other legal financial channels.
Efforts will also be made to regulate the process of sending money abroad via money changers, ensuring the system becomes transparent and “foolproof.”
The ministers stressed that “big-time” offenders will face strict consequences, adding that the hundi-hawala system will not be tolerated under any circumstances.
To strengthen enforcement, a Joint Working Group (JWG) will be established, consisting of representatives from the Federal Investigation Agency (FIA) and the State Bank of Pakistan (SBP).
This group will oversee and regularly review progress in curbing illegal currency transfers.
During the meeting, the State Bank Governor provided an overview of existing mechanisms for conducting international transactions through formal banking channels.
Senior officials, including the FIA director general, the State Bank governor, and the federal finance secretary, were also present at the session.
