- We are aware of the news item published by Bloomberg.
- The allegations in the complaints are meritless, and HBL is contesting them fully and vigorously.
- The public record is clear that HBL is unwavering in its commitment to combating the financing of terrorism, and—as has been well documented—its extensive global implementation of anti-money laundering compliance controls has been highly successful and lauded by regulators around the world.
- HBL’s motion was successful in two respects: The Court dismissed the primary liability claim and narrowed the case substantially.
- The court also stated Secondary liabilities will be evaluated following due legal proceedings and no judgement was passed by the court on this matter.
- HBL proactively initiated a business transformation program, in early 2018, around its control and compliance processes and systems to adhere to international standards.
- HBL has made investments in management time and resources to strengthen its AML and CFT protocols by partnering with global experts in this field.
- The Bank seeks to adhere to the highest standards of Compliance with international and country laws and regulations.
