Enforcement Action: SBP imposes Rs.271 million penalty on 4 banks during July - Sept 2020

MG News | October 28, 2020 at 11:15 PM GMT+05:00

0:00

October 28, 2020 (MLN): The State Bank of Pakistan (SBP) has imposed monetary penalty worth Rs.271.622 million on four banks that violated SBP’s rules and regulations during July-September 2020.

According to a notice issued by SBP, the penalty was imposed mainly on violations in the area of CDD/KYC/CFT/AML/FX, Asset Quality, and general banking operations.

Among the banks, the highest penalty of Rs.116.269 million was imposed on Bank Islami Ltd, followed by Rs.86.119 million on Albaraka Bank (Pakistan) Ltd, Rs.59.234 million on Soneri Bank Ltd and Rs.10 million on the Bank of Punjab.

In the previous quarter, the SBP imposed penalties of Rs.1.684 billion on 15 banks for similar violations of rules and regulations.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	171,404.49 326.40M	-0.32% -556.16
ALLSHR	103,442.24 795.99M	-0.21% -217.04
KSE30	52,413.79 113.03M	-0.27% -143.72
KMI30	244,645.84 109.10M	-0.15% -378.05
KMIALLSHR	67,050.27 450.39M	-0.02% -14.08
BKTi	47,413.54 37.21M	-0.37% -176.81
OGTi	33,419.75 8.88M	-0.20% -67.52

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	87,895.00	0.00 0.00	-165.00 -0.19%
BRENT CRUDE	60.55	60.65 59.40	0.73 1.22%
RICHARDS BAY COAL MONTHLY	91.00	0.00 0.00	2.30 2.59%
ROTTERDAM COAL MONTHLY	96.90	96.90 96.90	0.50 0.52%
USD RBD PALM OLEIN	1,016.00	1,016.00 1,016.00	0.00 0.00%
CRUDE OIL - WTI	56.54	0.00 0.00	0.02 0.04%
SUGAR #11 WORLD	14.85	14.87 14.45	0.37 2.56%