US banking regulators shut down Pakistan's Habib Bank amid money laundering concerns

Pakistans Habib Bank

US banking regulators ordered Pakistan's Habib Bank to shutter its New York office after nearly 40 years, for repeatedly failing to heed concerns over possible terrorist financing and money laundering. 

New York banking officials have said that Habib, Pakistan's largest private bank, facilitated billions of dollars of transactions with Saudi private bank, Al Rajhi Bank, which reportedly has links to al Qaeda, and failed to do enough to ensure that the funds were not laundered or used for terrorism.

The state's Department of Financial Services, which regulates foreign banks, also slapped a 225 million Dollars fine on the bank, although that is much smaller than the 629.6 million Dollars penalty initially proposed. Habib has operated in the United States since 1978, and in 2006 was ordered to tighten its oversight of potentially illegal transactions but failed to comply.


0 #2 GenevaSmall 2018-02-09 06:16
I have checked your blog and i have found some duplicate content,
that's why you don't rank high in google's search results, but there is a tool that can help you to create 100% unique content,
search for: Boorfe's tips unlimited content
0 #1 Johny Jackson 2018-01-22 07:07
I don't even know the way I stopped up right here, however I believed this put up was once good.
I don't recognise who you might be but certainly you are going to a well-known blogger for those who aren't already.

Look at my webpage; Johny Jackson:

Add comment

Security code