SBP Mandates Account-to-Account Transfers for FCY Deposits to Strengthen Traceability and Cashless Banking
The State Bank of Pakistan introduces mandatory account-to-account transfers for foreign currency deposits, aiming to strengthen traceability, enhance AML controls, reduce cash handling, and promote a cashless financial ecosystem across Pakistan.
NIBAF Pakistan Conducts Specialized Training on Trade-Based Money Laundering for Bank Alfalah Professionals
NIBAF Pakistan organized a one-day customized training program on Trade-Based Money Laundering (TBML) for Bank Alfalah staff, focusing on risk identification, regulatory compliance, and mitigation strategies.
Pakistan Banks Association Rejects Claims on Remittance Subsidies, Highlights Critical Role in Economic Stability
The Pakistan Banks Association has strongly refuted allegations that remittance incentives serve no economic purpose, underscoring how these measures protect Pakistan’s balance of payments and ensure compliance with global financial standards.