NBP wins terror financing case in New York court

MG News | June 14, 2022 at 09:13 PM GMT+05:00

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June 14, 2022 (MLN): Pakistan has won a terror-financing case filed against the National Bank of Pakistan (NBP) in New York’s federal court, sources in the Attorney General's Office confirmed Tuesday, as reported by Geo News.

The plaintiff — Harold Brown Sr — withdrew their case against the NBP, thus allowing the national bank to win the case.

Sources told Geo News that a few years back, the national bank was accused of facilitating the transfer of funds that were used to plan and execute an attack on a United States military base in Afghanistan, which killed nine American soldiers.

If NBP had lost the case, it would have been slapped with fines worth billions of dollars and would have effectively gone bankrupt, it added.

AG Office sources also said that if the NBP had lost, Pakistan would have faced serious issues at the Financial Action Task Force (FATF).

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