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FIA Detains Four Suspects in Karachi for Illegal Currency Trading

October 16, 2026 • 2 hours ago •

KARACHI: The Federal Investigation Agency’s (FIA) Commercial Banking Circle has apprehended four individuals in Karachi for their alleged involvement in illegal currency dealing. The arrests took place on Thursday in the parking area of Aga Khan University Hospital, a location that has now become a focal point for illicit financial activities.

The suspects have been identified as Muhammad Babar Dosani, Yaqoob Patel, Ahmar Hussain Khan, and another unidentified individual. According to FIA officials, this operation is part of a broader crackdown on illegal currency exchange operations that have been proliferating in the city, undermining the formal banking system.

This development raises significant concerns about the impact of illegal currency trading on Pakistan’s economy, particularly as the country grapples with inflation and currency devaluation. Experts warn that such activities not only threaten financial stability but also facilitate money laundering and other criminal enterprises.

The FIA has indicated that further investigations are underway, and additional arrests may follow as they delve deeper into the network of illegal currency dealers. Authorities are also urging citizens to report any suspicious financial activities to help combat this growing issue.