Pakistan’s Largest Bank Fined, Ordered to Shut Down Operations in U.S.

OAN Newsroom

Pakistan’s largest bank is ordered to shut down its only branch in the U.S.
The New York Department of Financial Services ordered Habib to surrender its license to operate in the state after discovering it failed to comply with a number of laws.
A recent investigation found the Pakistani bank facilitated billions of dollars in transactions with a Saudi bank that has alleged ties to Al-Qaeda.
The bank also permitted transactions by the leader of a Pakistani terror group, and a sanctioned Chinese arms dealer.
Habib was fined $225 million, and has agreed to surrender its license.