SBP imposes Rs57.83mn penalty on five banks on regulatory violation

MG News | February 08, 2022 at 03:19 PM GMT+05:00

0:00

February 08, 2022 (MLN): The State Bank of Pakistan (SBP) has imposed a monetary penalty of Rs57.834 million on five major banks on account of violation of regulatory instructions pertaining to general banking operations during the quarter ended Dec 31, 2021, as per a notice issued by the central bank.

Among the banks, the highest penalty of Rs13.684mn was imposed on Bank Alhabib Limited (BAHL) for violation of SBP's regulatory instructions while The Bank of Punjab (BoP) was fined Rs12.545mn for the same offense.

Standard Chartered Bank (Pakistan) Limited was charged Rs 11.045mn for breaching instructions related to general banking operations.

Meanwhile, Askari Bank Limited (AKBL) and National Bank of Pakistan (NBP) were penalized Rs10.30mn and Rs10.26mn respectively for violations of the same.

In addition to penal action, the banks have been advised to strengthen their processes with respect to identified areas.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	180,512.65 448.22M	-1.39% -2537.16
ALLSHR	108,400.67 868.95M	-1.31% -1441.30
KSE30	55,207.56 114.28M	-1.38% -773.10
KMI30	255,372.52 163.47M	-1.65% -4292.29
KMIALLSHR	69,728.20 559.75M	-1.31% -922.50
BKTi	52,173.33 27.19M	-1.16% -613.90
OGTi	35,348.89 25.23M	-2.28% -823.86

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	68,105.00	68,350.00 66,735.00	390.00 0.58%
BRENT CRUDE	69.15	69.85 68.86	-0.25 -0.36%
RICHARDS BAY COAL MONTHLY	96.00	0.00 0.00	0.25 0.26%
ROTTERDAM COAL MONTHLY	104.50	104.50 104.50	1.70 1.65%
USD RBD PALM OLEIN	1,071.50	1,071.50 1,071.50	0.00 0.00%
CRUDE OIL - WTI	64.49	65.10 64.18	-0.14 -0.22%
SUGAR #11 WORLD	13.73	13.88 13.67	-0.11 -0.79%