ISLAMABAD:- Finance Minister Ishaq Dar on Wednesday directed the SBP for making every effort to stop illegal activities in the currency markets. Finance Minister gave these directions to the Governor SBP Ashraf Mahmood Wathra in a meeting held on Wednesday. They have discussed about the crackdown against illegal currency business as well as illegal exchange companies. Various other measures were approved in the meeting to make the crackdown more effective. The Finance Minister directed that every effort should be made to stop illegal activities in the currency and exchange markets.–Staff Reporter

The SBP has recently signed memorandum of understanding (MoU) with Federal Investigation Agency (FIA) to crack down on illegal foreign exchanges. According to the Forex Association of Pakistan about 30,000 illegal money exchangers are operating across the country. These illegal exchanges are involved in business transactions of millions of dollars, causing huge loss to the national kitty.