{"id":345976,"date":"2023-07-28T13:09:51","date_gmt":"2023-07-28T08:09:51","guid":{"rendered":"https:\/\/leadpakistan.com.pk\/news\/?p=345976"},"modified":"2023-07-28T13:09:51","modified_gmt":"2023-07-28T08:09:51","slug":"state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules","status":"publish","type":"post","link":"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/","title":{"rendered":"State Bank slaps heavy fines on six commercial banks for violating rules"},"content":{"rendered":"<p> KARACHI<br \/>\nThe State Bank of Pakistan (SBP) has slapped hefty fines on six commercial banks for violating its rules and regulations, with the total amount of penalties worth Rs350.799 million.<br \/>\nAs per a document released by SBP\u2019s Banking Supervision Department on Thursday, the banks were found guilty of having compliance issues with regard to Know Your Customer (KYC) and FX obligations.<br \/>\nNational Bank of Pakistan (NBP) was fined Rs144.207 million for violation of regulatory instructions pertaining to CDD\/KYC and asset quality. Bank Alfalah Limited was fined Rs125.253m for violation of regulatory instructions pertaining to AML\/CFT, CDD\/KYC, FX, and General Banking Operations.<br \/>\nMeezan Bank Limited was fined Rs38.03m for violation of regulatory instructions pertaining to CDD\/KYC, FX, and General Banking Operations. Allied Bank Limited was fined Rs20.66m for violation of regulatory instructions pertaining to CDD\/KYC, FX, and General Banking Operations.<br \/>\nPunjab Provincial Cooperative Bank Limited was fined Rs12.229m for violation of regulatory instructions pertaining to CDD\/KYC, Asset Quality, and General Banking Operations. Bank Alhabib Limited was fined Rs10.42m for violation of regulatory instructions pertaining to CDD\/KYC, Asset Quality, and General Banking Operations.<br \/>\nIn addition to penal action, all banks have been advised to enhance their internal processes and controls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>KARACHI The State Bank of Pakistan (SBP) has slapped hefty fines on six commercial banks for violating its rules and regulations, with the total amount of penalties worth Rs350.799 million. As per a document released by SBP\u2019s Banking Supervision Department on Thursday, the banks were found guilty of having compliance issues with regard to Know [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":260846,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-345976","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>State Bank slaps heavy fines on six commercial banks for violating rules<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"State Bank slaps heavy fines on six commercial banks for violating rules\" \/>\n<meta property=\"og:description\" content=\"KARACHI The State Bank of Pakistan (SBP) has slapped hefty fines on six commercial banks for violating its rules and regulations, with the total amount of penalties worth Rs350.799 million. As per a document released by SBP\u2019s Banking Supervision Department on Thursday, the banks were found guilty of having compliance issues with regard to Know [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/\" \/>\n<meta property=\"og:site_name\" content=\"Daily Lead Pakistan\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/DailyLeadPak\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-28T08:09:51+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/leadpakistan.com.pk\/news\/wp-content\/uploads\/2022\/05\/State-Bank-of-Pakistan-SBP.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"480\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Web Desk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:site\" content=\"@DailyLeadPak\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Web Desk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\\\/\"},\"author\":{\"name\":\"Web Desk\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#\\\/schema\\\/person\\\/6ef8309590ff620a99ce35559f54fd62\"},\"headline\":\"State Bank slaps heavy fines on six commercial banks for violating rules\",\"datePublished\":\"2023-07-28T08:09:51+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\\\/\"},\"wordCount\":223,\"publisher\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/State-Bank-of-Pakistan-SBP.jpg\",\"articleSection\":[\"Business\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\\\/\",\"url\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\\\/\",\"name\":\"State Bank slaps heavy fines on six commercial banks for violating rules\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/State-Bank-of-Pakistan-SBP.jpg\",\"datePublished\":\"2023-07-28T08:09:51+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\\\/#primaryimage\",\"url\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/State-Bank-of-Pakistan-SBP.jpg\",\"contentUrl\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/wp-content\\\/uploads\\\/2022\\\/05\\\/State-Bank-of-Pakistan-SBP.jpg\",\"width\":800,\"height\":480},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"State Bank slaps heavy fines on six commercial banks for violating rules\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/\",\"name\":\"Daily Lead Pakistan\",\"description\":\"Daily Lead Pakistan\",\"publisher\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#organization\",\"name\":\"Daily lead Pakistan\",\"url\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/logo3.jpg\",\"contentUrl\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/wp-content\\\/uploads\\\/2022\\\/04\\\/logo3.jpg\",\"width\":1000,\"height\":154,\"caption\":\"Daily lead Pakistan\"},\"image\":{\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#\\\/schema\\\/logo\\\/image\\\/\"},\"sameAs\":[\"https:\\\/\\\/www.facebook.com\\\/DailyLeadPak\\\/\",\"https:\\\/\\\/x.com\\\/DailyLeadPak\",\"https:\\\/\\\/instagram.com\\\/DailyLeadPak\\\/\"]},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/#\\\/schema\\\/person\\\/6ef8309590ff620a99ce35559f54fd62\",\"name\":\"Web Desk\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/41f05ebf0a510062a26cf1d9e662155a6901c6733aa66a6c0f61daea3d680dc7?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/41f05ebf0a510062a26cf1d9e662155a6901c6733aa66a6c0f61daea3d680dc7?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/41f05ebf0a510062a26cf1d9e662155a6901c6733aa66a6c0f61daea3d680dc7?s=96&d=mm&r=g\",\"caption\":\"Web Desk\"},\"url\":\"https:\\\/\\\/leadpakistan.com.pk\\\/news\\\/author\\\/edt\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"State Bank slaps heavy fines on six commercial banks for violating rules","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/","og_locale":"en_US","og_type":"article","og_title":"State Bank slaps heavy fines on six commercial banks for violating rules","og_description":"KARACHI The State Bank of Pakistan (SBP) has slapped hefty fines on six commercial banks for violating its rules and regulations, with the total amount of penalties worth Rs350.799 million. As per a document released by SBP\u2019s Banking Supervision Department on Thursday, the banks were found guilty of having compliance issues with regard to Know [&hellip;]","og_url":"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/","og_site_name":"Daily Lead Pakistan","article_publisher":"https:\/\/www.facebook.com\/DailyLeadPak\/","article_published_time":"2023-07-28T08:09:51+00:00","og_image":[{"width":800,"height":480,"url":"https:\/\/leadpakistan.com.pk\/news\/wp-content\/uploads\/2022\/05\/State-Bank-of-Pakistan-SBP.jpg","type":"image\/jpeg"}],"author":"Web Desk","twitter_card":"summary_large_image","twitter_creator":"@DailyLeadPak","twitter_site":"@DailyLeadPak","twitter_misc":{"Written by":"Web Desk","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/#article","isPartOf":{"@id":"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/"},"author":{"name":"Web Desk","@id":"https:\/\/leadpakistan.com.pk\/news\/#\/schema\/person\/6ef8309590ff620a99ce35559f54fd62"},"headline":"State Bank slaps heavy fines on six commercial banks for violating rules","datePublished":"2023-07-28T08:09:51+00:00","mainEntityOfPage":{"@id":"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/"},"wordCount":223,"publisher":{"@id":"https:\/\/leadpakistan.com.pk\/news\/#organization"},"image":{"@id":"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/#primaryimage"},"thumbnailUrl":"https:\/\/leadpakistan.com.pk\/news\/wp-content\/uploads\/2022\/05\/State-Bank-of-Pakistan-SBP.jpg","articleSection":["Business"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/","url":"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/","name":"State Bank slaps heavy fines on six commercial banks for violating rules","isPartOf":{"@id":"https:\/\/leadpakistan.com.pk\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/#primaryimage"},"image":{"@id":"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/#primaryimage"},"thumbnailUrl":"https:\/\/leadpakistan.com.pk\/news\/wp-content\/uploads\/2022\/05\/State-Bank-of-Pakistan-SBP.jpg","datePublished":"2023-07-28T08:09:51+00:00","breadcrumb":{"@id":"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/#primaryimage","url":"https:\/\/leadpakistan.com.pk\/news\/wp-content\/uploads\/2022\/05\/State-Bank-of-Pakistan-SBP.jpg","contentUrl":"https:\/\/leadpakistan.com.pk\/news\/wp-content\/uploads\/2022\/05\/State-Bank-of-Pakistan-SBP.jpg","width":800,"height":480},{"@type":"BreadcrumbList","@id":"https:\/\/leadpakistan.com.pk\/news\/state-bank-slaps-heavy-fines-on-six-commercial-banks-for-violating-rules\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/leadpakistan.com.pk\/news\/"},{"@type":"ListItem","position":2,"name":"State Bank slaps heavy fines on six commercial banks for violating rules"}]},{"@type":"WebSite","@id":"https:\/\/leadpakistan.com.pk\/news\/#website","url":"https:\/\/leadpakistan.com.pk\/news\/","name":"Daily Lead Pakistan","description":"Daily Lead Pakistan","publisher":{"@id":"https:\/\/leadpakistan.com.pk\/news\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/leadpakistan.com.pk\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/leadpakistan.com.pk\/news\/#organization","name":"Daily lead Pakistan","url":"https:\/\/leadpakistan.com.pk\/news\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/leadpakistan.com.pk\/news\/#\/schema\/logo\/image\/","url":"https:\/\/leadpakistan.com.pk\/news\/wp-content\/uploads\/2022\/04\/logo3.jpg","contentUrl":"https:\/\/leadpakistan.com.pk\/news\/wp-content\/uploads\/2022\/04\/logo3.jpg","width":1000,"height":154,"caption":"Daily lead Pakistan"},"image":{"@id":"https:\/\/leadpakistan.com.pk\/news\/#\/schema\/logo\/image\/"},"sameAs":["https:\/\/www.facebook.com\/DailyLeadPak\/","https:\/\/x.com\/DailyLeadPak","https:\/\/instagram.com\/DailyLeadPak\/"]},{"@type":"Person","@id":"https:\/\/leadpakistan.com.pk\/news\/#\/schema\/person\/6ef8309590ff620a99ce35559f54fd62","name":"Web Desk","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/41f05ebf0a510062a26cf1d9e662155a6901c6733aa66a6c0f61daea3d680dc7?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/41f05ebf0a510062a26cf1d9e662155a6901c6733aa66a6c0f61daea3d680dc7?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/41f05ebf0a510062a26cf1d9e662155a6901c6733aa66a6c0f61daea3d680dc7?s=96&d=mm&r=g","caption":"Web Desk"},"url":"https:\/\/leadpakistan.com.pk\/news\/author\/edt\/"}]}},"_links":{"self":[{"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/posts\/345976","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/comments?post=345976"}],"version-history":[{"count":1,"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/posts\/345976\/revisions"}],"predecessor-version":[{"id":346013,"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/posts\/345976\/revisions\/346013"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/media\/260846"}],"wp:attachment":[{"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/media?parent=345976"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/categories?post=345976"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/leadpakistan.com.pk\/news\/wp-json\/wp\/v2\/tags?post=345976"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}