Islamabad, April 23, 2019: Aiming to further its efforts towards bringing the unbanked and underbanked into the fold of financial services, Pakistan Microfinance Network (PMN) has signed an agreement with Telenor Microfinance Bank (TMB), in the presence of the management of both institutions, to digitize Pakistan’s microfinance industry through ‘Digital Services Platform (DSP).’ PMN is…
Karachi, April 15, 2019: Khushhali Microfinance Bank Limited, the largest microfinance bank in Pakistan, announced that they have gone live with the world’s leading Core Banking System along with Financial Crime mitigation (FCM) and Analytics offered by Temenos (the software specialist for banking and finance). The system is implemented by National Data Consultant (NdcTech), a…
London, April 11, 2019: The Financial Conduct Authority (FCA) has fined Standard Chartered Bank (Standard Chartered) £102,163,200 for Anti-Money Laundering (AML) breaches in two higher risk areas of its business. This is the second largest financial penalty for AML controls failings ever imposed by the FCA. Today’s announcement follows FCA investigations into two areas of…