Wednesday, June 16, 2021  | 5 ZUL-QAADAH, 1442
Samaa TV
Facebook Twitter Youtube
HOME > Money

State bank fines 10 banks for violating money laundering laws

Four banks were fined last month

SAMAA | - Posted: Sep 6, 2019 | Last Updated: 2 years ago
SAMAA |
Posted: Sep 6, 2019 | Last Updated: 2 years ago

Photo: AFP

The State Bank of Pakistan has imposed a fine of over Rs850 million on 10 private banks over “deficiencies” in the areas of anti-money laundering and Counter Financing of Terrorism and for violating the laws on foreign exchange.

According to an SBP document, the banks have been directed to “improve the control environment to avoid re-occurrence of such lapses/violations in future”.

The banks are: Dubai Islamic Bank, Habib Bank Limited, Muslim Commercial Bank Limited, Silk Bank, Bank Alfalah Limited, Allied Bank Limited, Sindh Bank Limited, Summit Bank Limited, JS Bank Limited and Habib Metropolitan Bank Limited.

In August, the SBP had imposed a fine of Rs186 million fine on four commercial banks over their failure to implement anti-money laundering laws.

Follow SAMAA English on FacebookTwitter, and Instagram.

FaceBook WhatsApp
 
HOME  
 
 
RELATED STORIES

Tell us what you think:

Your email address will not be published.

FaceBook WhatsApp
 

 
 
pakistan economic survey 2021, economic survey of pakistan 2020 2021, economic survey of pakistan 2020 21 summary, economic survey 2021 highlights, economic survey 2021 budget, economic survey of pakistan data, economic survey of pakistan 2021, economic survey of pakistan 2020-2021
 

MOST READ
MOST READ
Suzuki Alto may become cheaper by Rs100,000
Is Bitcoin trading halal?
Punjab Budget 2021-22: Education gets the biggest share
Economic Survey 2021: How the PTI government performed
Pakistan petrol price increased to Rs110.69 per litre
How Pakistan plans to create two million jobs
 
 
 
 
 
About Us   |   Anchor Profiles   |   Online Advertising   |   Contact Us   |   Feedback   |   Apps   |   FAQs   |   Authors   |   Comment Policy
Facebook   |   Twitter   |   Instagram   |   YouTube   |   WhatsApp