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US slaps sanctions on four Pakistanis for money laundering, terror links

01:32 PM | 12 Oct, 2016
US slaps sanctions on four Pakistanis for money laundering, terror links
WASHINGTON - The United States Treasury Department has imposed sanctions on four Pakistanis and their nine entities for alleged involvement in money laundering and funds transfer on behalf of notorious drug traffickers and terrorist groups.

The individuals were identified as Obaid Altaf Khanani, Hozaifa Javed Khanani, Muhammad Javed Khanani and Atif Polani. The are close relatives of famous Pakistani money changer Altaf Khanani –the owner of Khanani and Kalia Money Changer.

Altaf Khanani is already in the custody of the US authorities for similar charges. His company has also been designated a Transnational Criminal Organization status since late 2015.

The newly banned companies include Mazaka General Trading, Jetlink Textiles Trading, Seven Sea Golden General Trading, Aydah Trading, Wadi Al Afrah Trading, Kay Zone General Trading, Kay Zone Builders and Developers, Landtek Developers and Unico Textiles.

All of the proscribed companies were functioning in a close coordination with Khanani Organisation, which is accused of third-party money laundering and transferring funds to financial institutions on behalf of drug traffickers and terrorist groups worldwide.

It is also worth mentioning here that Altaf Khanani also faced several cases of money laundering in Pakistan, however, he was released after a plea bargain agreement with anti-corruption body of the country.

Ali Zain is a member of the staff at Daily Pakistan Global. He earned BS Communication Studies degree from University of the Punjab. His thesis titled "Cultural Continuity and Mass Media: An analysis of leading online newspapers of Pakistan" has been published as a book in Germany. He has also translated David Mathews' book "The Ecology of Democracy" into Urdu. He tweets at @alimaan.


PKR rate against US Dollar, Euro, Pound, Riyal - Check 16 April forex rates

Pakistani currency gains momentum against all currencies on April 16, 2024 Tuesday. US dollar was being quoted at 277.9 for buying and 280.85 for selling.

Euro was quoted at 295 for buying and 298 for selling while British Pound stands at 345 for buying, and 349 for selling.

UAE Dirham AED was at 75.4 and Saudi Riyal's new rates was at 73.30. 

Today’s currency exchange rates in Pakistan - 15 April 2024

Currency Symbol Buying Selling
US Dollar USD 277.9 280.85
Euro EUR 295 298
UK Pound Sterling GBP 345 349
U.A.E Dirham AED 75.45 76.2
Saudi Riyal SAR 73.3 74.05
Australian Dollar AUD 182.7 184.5
Bahrain Dinar BHD 739.38 747.38
Canadian Dollar CAD 204 206.2
China Yuan CNY 38.45 38.85
Danish Krone DKK 40.45 40.85
Hong Kong Dollar HKD 35.57 35.92
Indian Rupee INR 3.33 3.44
Japanese Yen JPY 1.86 1.94
Kuwaiti Dinar KWD 903.91 912.91
Malaysian Ringgit MYR 58.92 59.52
New Zealand Dollar NZD 167.63 169.63
Norwegians Krone NOK 25.38 25.68
Omani Riyal OMR 722.1 730.1
Qatari Riyal QAR 76.35 77.05
Singapore Dollar SGD 206 208
Swedish Korona SEK 25.72 26.02
Swiss Franc CHF 307.11 309.61
Thai Bhat THB 7.61 7.76


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