The State Bank of Pakistan, in reference to a news item published in The Express Tribune on November 8, has clarified that it has no involvement in such transactions as the SBP is committed to abide by all international rules and regulations relating to sanctions.
The report says that the government has found a way to carry out banking transactions with Iran with the assistance of KASB Bank that will help clear dues of Tehran for supply of electricity to Balochistan. The report also mentioned that the State Bank of Pakistan (SBP) has endorsed the proposed payment mode.
According to the SBP press release, when KASB has already denied the report, therefore, the question of SBP endorsing its (KASB) proposal does not arise.
Published in The Express Tribune, November 11th, 2012.
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@Jewcifer: its BIS who is heading the money laundary from poor countries to rich countries???
All state banks report to BIS in Switzerland. If BIS is ok with Iran, these pesky national boundaries can't do much to them.