foreign exchange scam in pakistan

Daily Dawn report on forex scam: $4bn sent abroad ‘legally’

By Mubarak Zeb Khan ISLAMABAD: The ‘legal’ transfer outside Pakistan of over four billion dollars in the last few months, or the so-called flight of capital from the country, through normal banking channels or authorised dealers, was made possible because of an amendment made in the foreign exchange law during […]

Is there a forex reserve scam in Pakistan?

By Farrukh Saleem ISLAMABAD: As of February 2008, according to data compiled by the State Bank of Pakistan (SBP), net foreign exchange reserves held by the SBP were $ 11.9 billion and that of the commercial banks were $ 2.1 billion. Over the following nine months, net foreign exchange reserves […]