Afghanistan, March 21 -- On March 12, 2025, Pakistan's Federal Board of Revenue (FBR) identified over 70 real estate agents allegedly involved in transferring significant sums of money to the United Arab Emirates (UAE) through informal channels such as hawala and hundi. According to The News, a Pakistani publication, these transactions were linked to the open-market purchase of foreign currency and subsequent investments in Dubai's real estate sector-raising concerns about pressures on Pakistan's exchange rate.
Authorities indicated that some agents facilitated the transfer of foreign exchange outside of regulated financial channels. Real estate representatives reportedly described the practice as common, often conducted via exchange compa...