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Customs adopting zero-tolerance policy against money laundering: Collector Zuliqar Ali Chaudhary

Customs adopting zero-tolerance policy against money laundering: Collector Zuliqar Ali Chaudhary

ISLAMABAD: Collector Customs Zulifqar Ali Chaudhary said that due to tight vigilance, there are zero chances of any money laundering through New Islamabad International Airport (NIIA).

Talking with Customs Today, the collector said that Customs Collectorate has made all possible arrangements at the airport to prevent money laundering.

Collector Zulfiqar said that they are maintaining data of all passengers who travel via NIIA so they can keep check on the movements of currency dealers. He said that it is authorized by rules of State Bank of Pakistan (SBP) that a passenger can carry $10,000 per foreign trip.

Another official source at Federal Board of Revenue (FBR) said that in pursuance of sub-section (2) of Section 8 of the act, the State Bank has issued notification no. F.E.2/98-SB dated July 21, 1998 granting general permission to authorized currency dealers to send out of Pakistan, cheques, drafts or bills of exchange which have been acquired by them in the normal course of their business and within the terms of their authorization.