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NAB tells Prevention of Fraudulent Practices in Banking Sector

Lahore: NAB Punjab organized a two days national conference on “Prevention of Fraudulent Practices in Banking Sector” on 3-4th January 2013 State Bank of Pakistan Building Shahra e Quaid-i-Azam (The Mall), Lahore. The aims and objectives of the conference were to deliberate on the issue with all the stakeholders, to examine the laws & rules relating to the practice and procedures pertaining to banking sector. The prevention committee will prepare recommendations and suggestions, and will submit to the Chairman NAB and after approval; the same will be forwarded to State Bank of Pakistan and other regulators for implementation.

Khursheed Anwar Bhinder, DG, NAB Punjab and Brig. ® M. Mussadiq Abbasi, DG Awareness and Prevention (A&P) NAB HQ Islamabad attended the conference and shared their valuable views & suggestions. The conference was attended by 25 delegates including NAB Officers, members of Prevention Committee on Banking Sector constituted by Chairman NAB, senior bankers of major banks. The conference started at 0930 Hrs on 3rd January 2013 and continued till 1600 Hrs on 4th January 2013.

On 3rd January, 2013, Mr. Atiq ur Rehman, Director (A&P) NAB Punjab welcomed the participants and briefed about aims and objectives of the prevention committee on baking sector. Mr. Sajid Ali Nadeem Director FCI NAB Punjab presented a case study on investigated by NAB Punjab related to the banking crime. Then Mr. Munheer Ahmed Memon, Joint Director, Financial Monitoring Unit, SBP Karachi and Mr. Irfan Ismail, Additional Director Banking Policy and Regulations, State Bank of Pakistan Karach dele their presentation followed by discussion. On the issue, on second day of the conference, Mr. Nazir Ahmed Chaudhary, member ICAP and Mr. Imran Hussain Minhas, Joint Director, SECP Islamabad delivered their speeches along with the detailed deliberations. The participants concluded the conference with their recommendation which was agreed by all the stakeholders.

At the end, Brig. ® Mussadiq Abbasi, DG Awareness and prevention addressed the participants and stressed the need to curb the mal practices in banking sector which leads towards fraudulent activities.

He emphasized the importance of Regulators and getting help from legal branch in creating enabling environment for curtailing corruption. Lastly, he stressed the need to provide able leadership to employees in creating awareness regarding corrupt practices and improving their behavior through counseling.

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