Islamabad: Parliamentary Secretary Finance Rana Afzal made it clear that Habib Bank (HB) in America has not been fined 225 million dollars on account of money laundering but because of not following the law pertaining to reporting.
He was Replying to calling attention notice from four members in the NA.
He said HB has shown readiness to pay the fine and closed down its operation in New York.
Habib Bank has constituted a high level committee to probe these matters and will report back soon.
He added that they will protect all the branches of banks operating overseas. He said Pakistan government only regulates the banks as they are private companies.
He said that all international dollar transactions pass through New York system.