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National Bank of Pakistan wins terrorism financing case in US

16 Jun, 2022
<p>The NBP is the largest public sector bank in Pakistan having a significant branch network of 1,500 plus branches. APP/File</p>

The NBP is the largest public sector bank in Pakistan having a significant branch network of 1,500 plus branches. APP/File

KARACHI: The National Bank of Pakistan (NBP) has won a terrorism financing case in the United States.

The case titled “Harold Brown Sr, et al vs NBP” alleged that the NBP allowed money transfers which resulted in financing of terrorism against US persons in Afghanistan which may have amounted to an offence under the US Anti-Terrorism Act, as amended by the Justice Against Sponsors of Terrorism Act.

The NBP had filed a motion to dismiss the case. It was vigorously contested through the bank’s US attorneys.

The case was filed in a United States District Court, Southern District Court, Second Circuit, New York.

The dismissal of the case has shown that the claim against the NBP was without any legal basis, said a statement issued by the bank.

The NBP said that it has historically remained committed to combating financial crime through compliance with local and international laws, regulations and international best practices with regards to Anti Money Laundering and Know Your Customer related matters.

The NBP is the largest public sector bank in Pakistan having a significant branch network of 1,500 plus branches across the country and a strong international presence.