Pakistan's central bank fined Soneri Bank Ltd. and three other banks a total of approximately 184 million rupees in July for their failure to meet anti-money laundering and know-your-customer rules, among others, Business Recorder reported Aug. 9.
The State Bank of Pakistan fined Soneri Bank 55.5 million rupees for violating rules on AML/KYC, asset quality and foreign exchange operations. Further, the central bank imposed fines totaling 51.8 million rupees on Bank AL Habib Ltd., 48.2 million rupees on JS Bank Ltd. and 29.2 million rupees on Bank of Punjab for violating various rules.
As of Aug. 9, US$1 was equivalent to 158.26 Pakistani rupees.
