April 24, 2021

SBP slaps Rs98mln fines on four banks

KARACHI: The State Bank of Pakistan has slapped fines of Rs97.6 million on four top banks in the first quarter of the year for failing to comply with the regulatory instructions, it said on Friday.“These actions are based on deficiencies in the compliance of regulatory instructions and do not constitute a comment on the financial soundness of the entity,” the SBP said in a statement.The four banks were fined for failure to comply with the regulatory instructions related to foreign...