HBL New York closure is a hint of changing US policy towards Pakistan, says Senior US Journalist
WASHINGTON: Senior US Journalist Michael Kugelman said that the closure of HBL bank New York and fine, which is the largest ever imposed upon a Pakistani bank is an early indication of Washington’s latest policies aimed at pressurizing Pakistan to give up its alleged support and shelter to terrorists.“This is no small matter,” he added.
The fine liable to be paid within 14 days. The fine is still far smaller than the $630 million that the regulator had earlier assessed.
The New York State Department of Financial Services said in a statement that the fine was being imposed for failures to comply with laws and regulations designed to combat illicit money transactions.
The bank was also ordered to surrender its license to operate in the state, effectively removing it from the US financial system.
Last month, Trump had infuriated Pakistan when he accused Islamabad of providing terrorists safe haven and threatened to suspend aid.