WorldWatch

MUSLIM BLOCK: HYPOCRISY & FEAR GO HAND IN HAND. Speaking realistic, neither the US nor any other western country need not to act hypocritically for the perdition going on in Palestine owing to their financial and military power. Although many of western, African ad Latin American countries deserve big round of applause and appreciation for strongly protesting within and outside spheres of their best approaches and are extending moral support on all the global forums but, the word "hypocrisy" now be amended to read "stabbing on the back" of Palestinians by their own religion and language mates; Iran to lead that mean, messy and coward group while rest in OIC to cooperate with and support Zionist Israel in intensifying the blood shed heading ultimately to complete catastrophe. ZIONIST ISRAEL's evil designs of illegitimate expansion will head thereafter to Syria, Lebanon, Egypt, some parts of KSA and Kuwait phase-wise. OIC, hidden like a frightened child is inv...

MONTHLY TBML-RELATED STRS' VOLUME SURGES BY 398%-ADB   Courtesy to Daily BR       PAGE-3/3 Specific country TBML routes analysis is available with the FIUs, but for the purpose of this brief, some FIUs provided aggregate data per their preference. new STR-TBML data elements. The law enforcement agencies also praised how the initiative has enabled them to utilize the financial intelligence, which aids in the detection and prevention of illicit financial activities. The pilot introduced new trade-related data elements into STRs, resulting in countries reporting a significant increase in the number of suspicious trade transactions—for instance, 398 percent higher for Pakistan and 148 percent higher for Bangladesh—and higher-quality information that could translate into increased investigations of potential TBML cases. The pilot also enabled participating countries to identify which goods and trade routes are more susceptible to TBML. This new insight will help authoriti...

MONTHLY TBML-RELATED STRS' VOLUME SURGES BY 398% IN PAKISTAN- ADB.                                               PAGE- 2/3 The brief noted that Pakistan’s monthly TBML-related STRs volume increased by an average of 398 percent after the pilot and the resulting implementation activities, based on data provided by Pakistan’s Financial Monitoring Unit (FMU). From July 2023 to June 2024, the FMU recorded a monthly average of 191 STRs related to suspicious trade transactions, whereas the monthly average pre-pilot was just 38. Ten of the largest banks in Pakistan participated in the pilot. The pilot numbers are still conservative given that only 10 out of the 40 banks in Pakistan were included in the pilot. The FMU observed that during the pilot, banks provided more detailed reasons for reporting each TBML-related STR, which suggests that they conducted closer scrutiny of tr...

MONTHLY TBML-[TRADE BASED MONEY LAUNDERING]-RELATED STRS'VOLUME SURGES BY 398%IN PAKISTAN-ADB                                               PAGE-1/2 ISLAMABAD: Pakistan’s monthly trade-based money laundering (TBML) related suspicious transaction reports (STRs) volume increased by an average of 398 percent, says Asian Development Bank (ADB). “From July 2023 to June 2024, the FMU recorded a monthly average of 191 STRs related to suspicious trade transactions, whereas the monthly average pre-pilot was just 38,” the bank stated in a brief “transforming the fight against trade-based money laundering: New Data and Partnerships.” This brief presents the results of a TBML pilot conducted by ADB Trade and Supply Chain Finance Program. The pilot introduced new data, training, and collaboration in Bangladesh, Mongolia, Nepal, Pakistan, and Sri Lanka to enhance the detection and invest...

DILEMMA IN PCB. In order to protect son's position as Test Captain, his father Mr Zafar Masood, president Bank of Punjab has allegedly entered into an agreement with PCB to name Gaddafi Stadium Lahore after BOP against a whopping sum of PKR=1.00Billion to be paid 200M per year in five instalments. BOP, with a network of 813 branches is far behind as per the first half yearly financial results of 2024 than its contemporary banks,BAH & BAF having even number of branches.  How a bank already in hard waters can go after an illogical deal like this allegedly without any malafide intention? Everyone rest assure nothing will happen to any body until the removal of Chairman PCB, Mr Mohsin Naqvi an unprofessional and non sportsman holding dual role yet, justice to none.

SBP AS A COOL FINANCIAL REGULATOR. Very true,banks in Pakistan have centralised their core banking functions including Account Opening sans of proper homework pushing aspiring customerts to an agonising yet irritating delays coupled with, the rude attitudes of frontline teams running short of patience.  Banks have usually ceased to adding values by way of need-of-the-hour and very important trainings on staff concerning client handling that could equip and lead them to changing global banking norms. Further, the lacklustre and dormancy on the part of State Bank of Pakistan,the sole regulator to banks has turned banks into a more unaccountable mode.  SBP is there to inflict heavy penalties on banks only for violating compliance related issues yet, it stays dumb on client and staff related issues where SOPs are not met by banks and their owners alike.