Pakistan Rejects Indian Bank's Claims

Pakistan rejects Indian bank's claims

Pakistan's central bank has rejected claims that Pakistan-related fund flows were 'high risk,' saying such assertions were politically motivated. The Reserve Bank of India (RBI) has asked the country's lenders to increase scrutiny over funds flowing indirectly from Pakistan, according to a letter seen by Reuters that cited a 'high risk' of such money being used to buy arms. Direct flows of funds from Pakistan to India are largely prohibited, wit…

Indian lenders told to step up checks on funds flowing indirectly from Pakistan

Direct flows of funds from Pakistan to India are largely prohibited, with every transaction requiring the central bank’s approval.

NEWS: India urges banks to tighten checks over ‘high risk’ fund flows from Pakistan - AML Intelligence

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