December 21, 2006

Written agreement with Habib Bank Limited

  • Board of Governors of the Federal Reserve System
  • New York State Banking Department

For immediate release

The Federal Reserve Board and the New York State Banking Department on Thursday announced the execution of a Written Agreement by and among Habib Bank Limited, Karachi, Pakistan; the bank's branch in New York, New York; the Federal Reserve Bank of New York; and the New York State Banking Department.

The Written Agreement addresses Bank Secrecy Act and anti-money laundering compliance at Habib Bank Limited's New York branch, including policies and practices relating to the provision of correspondent banking services.

A copy of the Written Agreement is attached.

Last Update: December 21, 2006