New York Tells Top Pakistan Bank to Hire Laundering Monitor

  • Habib Bank must limit dollar clearing, new accounts, DFS says
  • Regulator's order issued without fines, details of findings

New York’s banking regulator ordered Habib Bank Ltd. to limit its dollar-clearing activities and hire a monitor to oversee its internal financial controls, saying Pakistan’s largest lender had failed to improve its operations in the U.S. since irregularities were flagged there almost a decade ago.

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