Thursday, July 2, 2020  | 10 ZUL-QAADAH, 1441
Samaa TV
Facebook Twitter Youtube
HOME > Money

State Bank fines four banks Rs188m for violating regulations

SAMAA | - Posted: Dec 11, 2019 | Last Updated: 7 months ago
SAMAA |
Posted: Dec 11, 2019 | Last Updated: 7 months ago
State Bank fines four banks Rs188m for violating regulations

Photo: AFP

The State Bank of Pakistan fined four commercial banks for violating its regulations in November.

These banks are Allied Bank, MCB, Bank of Punjab and Habib Bank Limited (HBL). Allied Bank was fined Rs60 million, MCB Rs91.8 million, Bank of Punjab Rs14 million and HBL Rs22.6 million.

The State Bank recently started making public the fines it imposes on commercial banks. From July, when it started making the fines public, till November, the SBP fined commercial banks a collective Rs1.3 billion.

The violations include failing to adhere to bank customs, due diligence and know your customer regulations.

Follow SAMAA English on FacebookTwitter, and Instagram.

FaceBook WhatsApp
 
HOME  
 
 
RELATED STORIES

One Comment

  1. khalid  December 11, 2019 6:55 pm/ Reply

    What about those banks involved in money laundering? Why those are not fined and officials involved jailed?

Tell us what you think:

Your email address will not be published.

FaceBook WhatsApp
 

 
 
sbp, state bank of pakistan, hbl, bank of punjab, mcb, allied bank, fines, pakistan banks
 
MOST READ
MOST READ
Repaying your car loan becomes 50% cheaper
Pakistan petrol price goes up by Rs25
Honda increases bike prices in Pakistan
Government pondering reducing petrol prices in Pakistan
Gold prices decline after a seven-day rally
How online thieves are stealing your money in Pakistan
PIA domestic flights to cost Rs12,000 now
Pakistan’s dollar reserves drop to seven-month low
 
 
 
 
 
About Us   |   Anchor Profiles   |   Online Advertising   |   Contact Us   |   Feedback   |   Apps   |   FAQs   |   Authors
Facebook   |   Twitter   |   Instagram   |   YouTube   |   WhatsApp