SBP issues directives not to provide monetary services to banned outfits

Saturday 18 February 2017 1 month ago 31   Karachi   Print

File photo.

Report  Web desk : State Bank of Pakistan (SBP) on Friday issued directives to all commercial banks and financial institutions across country to not provide monetary services to banned outfits or persons. The move is aimed at curbing money laundering and financial sources used in carrying menace of terrorism. New guidelines have been issued in line with United Nations’ (UN) resolution, stated SBP. New guidelines bound banking officials to be complacent before making transactions that organizations’ owners, trustee or employees are not linked with any banned outfit. (02)