SBP aims to formulate timelines and cooperate with FIA, PBA

By: News Desk      Published: 09:00 PM, 20 Nov, 2021
SBP aims to formulate timelines and cooperate with FIA, PBA

Governor State Bank of Pakistan (SBP) Reza Baqir Saturday aimed to enhance cooperation and formulate timelines to improve management between Federal Investigation (FIA) and Pakistan Banking Association (PBA), reported 24NewsHD TV.

The meeting which Baqir held with Director General FIA Sanaullah Abbasi, and heads of commercial banks, highlighted important issues related to money laundering, online fraud and cyber-attacks were also highlighted.

According to the SBP statement, the meeting chaired by SBP Governor Reza Baqir was attended by DG FIA Sanaullah Abbasi, his team, heads of commercial banks and SBP officials.

Baqir outlined the SBP's regulatory and supervisory measures to curb money laundering, online frauds and cyber-attacks. 

Reza believed that effective investigation and strict action will help to reduce digital frauds, money laundering and cyber-attacks. 

Meanwhile, DG FIA provided cybersecurity services to the meeting. 

While regulatory and supervisory measures have been re-enacted by banks through PBA.