1161Pakistan Current AffairsMedium
Which Pakistani bank has been penalised with heavy fine by US authorities?
ASBP
BNone of these
CHBL
DNBP
Correct answer
D. NBP
Explanation
The state-owned National Bank of Pakistan (NBP) on Friday confirmed it had been fined $55.4 million by two US regulators, but maintained that no “improper transactions or willful misconduct” was found during the examination. The Federal Reserve Board and the New York State Department of Financial Services (NYDFS) announced on Thursday they fined the NBP for serious compliance deficiencies and anti-money laundering violations.