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SBP imposes over Rs290 million as penalty on six commercial banks

KARACHI: State Bank of Pakistan (SBP) on Friday imposed over Rs290 million as monetary penalty on six commercial banks for violating regulatory instructions pertaining to Customer Due Diligence (CDD) and Know Your Customer (KYC) during quarter ended September 30, 2022. The central bank imposed the monetary penalty on commercial banks included: Bank Al Habib Limited; […]

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State Bank of Pakistan

SBP imposes Rs805 million penalty on 10 banks for violating AML, due diligence, forex regulations

KARACHI: State Bank of Pakistan (SBP) has imposed penalty amounting Rs805.1 million on 10 banks for violating anti-money laundering, due diligence of customers and foreign exchange regulations during the month of August 2019. The central bank issued details on Friday about action taken by the SBP against banks in order to plug loopholes in the […]

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