The State Bank of Pakistan outlined for banks and microfinance banks the basic requirements for opening bank accounts for Pakistani residents via digital channels, such as websites, digital kiosks and mobile applications.
The State Bank of Pakistan issued a licensing and regulatory framework establishing digital banks in the jurisdiction, including anti-money laundering and counterterrorist financing requirements.
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The State Bank of Pakistan’s Offsite Supervision and Enforcement Department issued a Rs59,516,000 penalty against the Karachi, Pakistan-based financial institution for violating instructions and regulation related to anti-money laundering and counterterrorist financing.
The State Bank of Pakistan’s Offsite Supervision and Enforcement Department issued a Rs12.8 million penalty against the Karachi, Pakistan-based financial institution for procedural violations of customer due diligence and know your customer requirements.
|Compliant : 8||High : 0|
|Largely Compliant : 27||Substantial : 0|
|Partially Compliant : 3||Moderate : 1|
|Non-Compliant : 2||Low : 10|
|Rank : 83/110|
|Score : 6.0/10|
|Rank : 124/179|
|Score : 31/100|
|Rank : 100/133|
|Score : 55/100|