Forex Association concerns over sudden raids of FIA.

Karachi -- The delegation of exchange companies during a meeting with Finance Minister Asad Umar raised their concerns over sudden raids by Federal Investigation Agencies (FIA) teams.

A delegation of Forex Association of Pakistan (FAP) headed by its president Malik Bostan Khan met the finance minister and the DG FIA and explained both about recent surprise checks by the FIA teams, FAP released statement. Malik Bostan Khan said that during past two years incidents of dacoity occurred in which culprits impersonate as army men or policemen and huge amount of foreign currencies looted from the exchange companies.

Bostan urged the Finance minister to define a mechanism to monitor the exchange companies. FAP president suggested that a representative from State Bank of Pakistan should accompany the FIA team during surprise raids.

'The surprise check should be video recorded to avoid any mishandling,' he further suggested. FAP president said that the exchange companies should be dealt with respect as those...