CDNS decides screening all customers of national saving schemes

ISLAMABAD: The government has decided to check involvement of money laundering and terror financing in national saving schemes as per recommendations of Financial Action Task Force (FATF). In this regard, the Central Directorate of National Savings (CDNS) intends to hire the services of a commercial bank regulated by State Bank of Pakistan (SBP) for conducting […]

by Mrs. Anjum Shahnawaz

SBP imposes Rs1,123 million penalty on commercial banks for violating rules, regulations

Oct 4

Money & Banking

SBP imposes Rs1,123 million penalty on commercial banks for violating rules, regulations

KARACHI: State Bank of Pakistan (SBP) has imposed penalty to the tune of Rs1,123 million during first quarter (July – September) of current fiscal year 2019/2020 for violating rules and regulations. The SBP has taken penal action against three banks for violating procedures in the areas of Know Your Customer (KYC) and Customers Due Diligence […]

by Mrs. Anjum Shahnawaz