Pakistan Banks’ Association Conducts Trade-Based Money Laundering Training

Delivering upon its commitment to further strengthen the financial sector against local and global trade risks, Pakistan Banks’ Association (PBA) successfully conducted a training session on Trade-Based Money Laundering (TBML) for member banks in Karachi. The TBML training at PBA is based on a training module of The International Finance Corporation (IFC), an affiliate of the World Bank Group. The objective of the training also aligns with the State Bank of Pakistan’s (SBP) requirement for financial institutions to implement robust measures in accordance with the regulatory framework and international standards, including regular training for staff to monitor, identify, and report any suspicion of TBML to the Financial Monitoring Unit (FMU). Commenting on the initiative, Tawfiq A. Hussain, CEO & Secretary General – PBA said:“Pakistan Banks’ Association remains committed to help build capacity of the banking industry. Through such training programs, we aim to empower the banks and DFIs in Pakistan to uphold the highest banking standards, while also reinforcing their integrity in global trade.”