{"id":13449,"date":"2023-10-12T11:04:04","date_gmt":"2023-10-12T11:04:04","guid":{"rendered":"https:\/\/news.pakistaninewspaperlist.com\/karachi-court-hears-hawala-hundi-case-against-two-accused\/"},"modified":"2023-10-12T11:04:04","modified_gmt":"2023-10-12T11:04:04","slug":"karachi-court-hears-hawala-hundi-case-against-two-accused","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/karachi-court-hears-hawala-hundi-case-against-two-accused\/","title":{"rendered":"Karachi Court hears Hawala Hundi case against two accused"},"content":{"rendered":"
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KARACHI: The Federal Investigation Agency (FIA) on Thursday submitted progress report on illegal hawala transactions case in sessions court Karachi East, ARY News reported.<\/strong><\/p>\n

The FIA in its report about two accused said that no evidence found against accused Bilal Ahmed, and he was released with the approval from higher authorities.<\/p>\n

The court sent another accused Umair Butt to jail on judicial remand.<\/p>\n

The court also ordered the investigation officer to submit challan of the case on October 19.<\/p>\n

\u201cThe accused were operating hawala hundi business in the name of export trade,\u201d FIA said. \u201cThey inflicted huge loss to the national exchequer,\u201d according to FIA report.<\/p>\n

The accused were arrested from Karachi\u2019s PECHS area on October 06.<\/p>\n

What is Hawala or Hundi?<\/strong><\/p>\n

Hawala (used interchangeably with hundi) is an alternative cash transfer system that operates parallel to traditional banking channels.<\/p>\n

Transfers of money take place based on communications between members of a network via trust and extensive use of connections.<\/p>\n

It works by transferring money without actually moving it, requires no bank accounts and is consummated without leaving a paper trail.<\/p>\n<\/div>\n<\/div>\n