Banks to remain open on Saturday
Online transactions will be possible during Eid holidays: State bank fines four banks for violating anti-money laundering laws, others
Under the directives of State Bank, the private commercial banks across the country will remain open on the upcoming Saturday and online monetary transactions will also be possible during the Eid holidays, reported 24NewsHD TV channel on Thursday.
As per the orders of Prime Minister Shehbaz Sharif, the State Bank has directed the private commercial banks to keep their services of online banking and ATM operational during the Eid holidays.
The customers will be able to carry out online transactions during the Eid holidays.
Meanwhile, the State Bank also imposed a fine of Rs109 million on four banks for violating the laws regarding anti-money laundering and terrorist financing in the quarter from January 22 to March 22, 2022.
The heaviest fine of Rs40.9 million was imposed on Al-Baraka Bank Limited for violating the rules regarding anti-money laundering, CFT, Forex and general banking operations.
A fine of Rs38.5 million was imposed on Askari Bank Limited for not obtaining customers’ information and violating the rules regarding asset management and general banking operations.
The National Bank of Pakistan was also fined Rs19.2 million for violating the regulatory advice.
The U Microfinance Bank Limited was fined Rs10.2 million for violating the regulatory advice and the rules regarding anti-money laundering.
Reporters: Shehzad Khan Abdali, Ashraf Khan