Mohsin Nathani set to be­come Pres­i­dent of Habib Bank Lim­ited

The Pak Banker - - FRONT PAGE - Staff Re­porter

KARACHI: Mohsin Ali Nathani, a very ex­pe­ri­enced banker, who is be­ing tipped as the new Pres­i­dent/CEO of the scan­dal-hit Habib Bank Lim­ited, will be fac­ing the most dif­fi­cult task of re­viv­ing the bat­tered im­age and busi­ness of the HBL that had faced a ma­jor set­back af­ter im­po­si­tion of more than Rs 22 bil­lion fine in Amer­ica as the bank failed to ful­fill the mon­ey­laun­der­ing reg­u­la­tory re­spon­si­bil­i­ties in USA a few months ago.

Tens of Mil­lions of dol­lars re­mit­tances of the HBL from the United States and other coun­tries are at stake be­cause of this mega-scam in the bank­ing his­tory of Pak­istan that had not only de­famed Pak­istan, but also raised many eye-brows about the ca­pa­bil­ity of Pak­istani banks to meet the chal­lenges of com­bat­ing the money laun­der­ing and en­forc­ing the laws and tech­nol­ogy that fully com­ply with the anti-money laun­der­ing laws glob­ally.

The in­cum­bent Pres­i­dent/CEO Nau­man K. Dar is ex­pected to leave the bank at the end of Dec-2017, on com­ple­tion of his ten­ure as the HBL Pres­i­dent and money-laun­der­ing scam in United States seems one of the key rea­sons that have landed Nau­man Dar and many other HBL of­fi­cials in trou­ble who were ei­ther in­com­pe­tent or they de­lib­er­ately com­pro­mised on in­ter­na­tional anti-money laun­der­ing laws for mak­ing money from trans­ac­tions of for­eign ex­changes es­pe­cially re­mit­tances and also earned mon­e­tary re­ward from the State Bank of Pak­istan for at­tract­ing the high­est num­ber of re­mit­tances an­nu­ally. The SBP had launched the Pak­istan Re­mit­tance Ini­tia­tives that of­fers fi­nan­cial in­cen­tives to pro­mote the in­flows of the re­mit­tances.

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