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

By 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	130,344.03 345.79M	1.67% 2144.61
ALLSHR	81,023.99 1,021.87M	1.55% 1236.37
KSE30	39,908.26 141.62M	2.05% 803.27
KMI30	189,535.00 150.29M	1.40% 2619.39
KMIALLSHR	54,783.66 508.76M	1.07% 581.78
BKTi	34,940.73 55.86M	4.37% 1464.05
OGTi	28,296.06 16.02M	1.19% 333.47

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	108,320.00	108,430.00 105,440.00	2570.00 2.43%
BRENT CRUDE	67.99	68.03 66.94	0.88 1.31%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	0.75 0.78%
ROTTERDAM COAL MONTHLY	110.00	110.00 110.00	2.50 2.33%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	66.32	66.36 65.23	0.87 1.33%
SUGAR #11 WORLD	15.86	15.97 15.77	0.16 1.02%