16 Chinese bank branches fined for violation of law
BEJING: China's foreign exchange regulator published a list of banks involved in illegal foreign exchange deals, in an effort to tighten control on "hot money" inflows.
The l i st posted on t he State Administration of Foreign Exchange ( SAFE) website was another follow-up announcement of such disclosure after SAFE pledged to t ake measures on cracking down on "hot money" inflows amid concerns over inflation and asset-bubble r i sks in February.
The i l l egal t r ansacti ons tracked down in 16 branch off i c e s of banks c overi ng I ndustri a l a nd Commercial Bank of China (ICBC) and China Construction Bank ( CCB) i ncluded t he use of f a ke c ontr a c t s a nd false claims to obtain speculative capital. All these banks had been fined for their law-violation. - PB News
ISLAMABAD: Iranian Ambassador H.E. Mashaallah Shakeri called on Deputy Speaker National Assembly Faisal Karim Kundi at Parliament House. -App