Identifier
Created
Classification
Origin
08ISLAMABAD1932
2008-05-23 12:57:00
SECRET
Embassy Islamabad
Cable title:
PAKISTAN: RESPONSE TO REQUEST FOR VIGILANCE REGARDING BANK
how-toVZCZCXRO1928 RR RUEHLH RUEHPW DE RUEHIL #1932 1441257 ZNY SSSSS ZZH R 231257Z MAY 08 FM AMEMBASSY ISLAMABAD TO RUEHC/SECSTATE WASHDC 7064 INFO RUEATRS/DEPT OF TREASURY WASHDC RUCNDT/USMISSION USUN NEW YORK 8107 RHEHNSC/NSC WASHINGTON DC RUEAIIA/CIA WASHDC RUMICEA/USCENTCOM INTEL CEN MACDILL AFB FL RHMFISS/CDR USCENTCOM MACDILL AFB FL RUEHLH/AMCONSUL LAHORE 5493 RUEHPW/AMCONSUL PESHAWAR 4235 RUEHKP/AMCONSUL KARACHI 9754
S E C R E T ISLAMABAD 001932
SIPDIS
E.O. 12958: DECL: 05/23/2018
TAGS: ECON EFIN ETTC KNNP MNUC PREL PK
SUBJECT: PAKISTAN: RESPONSE TO REQUEST FOR VIGILANCE REGARDING BANK
MELLI BRANCH
REF: State 51207
Classified by DCM Peter Bodde, reasons 1.4 (b),(c),and (d)
S E C R E T ISLAMABAD 001932
SIPDIS
E.O. 12958: DECL: 05/23/2018
TAGS: ECON EFIN ETTC KNNP MNUC PREL PK
SUBJECT: PAKISTAN: RESPONSE TO REQUEST FOR VIGILANCE REGARDING BANK
MELLI BRANCH
REF: State 51207
Classified by DCM Peter Bodde, reasons 1.4 (b),(c),and (d)
1. (S) Economic Counselor and Economic Officer delivered reftel
demarche May 22 to senior officials at the Ministries of Finance and
Foreign Affairs (MFA). Both Ministry of Foreign Affairs Americas
Director General Sohail Mahmood and Ministry of Finance Senior Joint
Secretary Iqbal Hussain pledged to share our concerns with relevant
Government of Pakistan (GOP) agencies, including the State Bank of
Pakistan (SBP).
2. (S) EconOff met separately with MFA Director for Disarmament
Kamran Akhtar on May 23. Akhtar stated that the GOP was fully
compliant with UN Security Council resolutions 1803, 1737 and 1747
and remained vigilant with respect to Iranian financial activities in
Pakistan. Aiming to allay USG concerns, he reported that no
Pakistani banks have corresponding relationships with Iranian banks.
The State Bank of Pakistan has frozen accounts belonging to Bank
Sepah, and the GOP has already issued three statutory regulation
orders (SRO) urging banking sector caution with respect to financial
transactions with Iran.
3. (S) Akhtar reported that a final decision has yet to be made on
Bank Melli's request to open a branch in Karachi. While Pakistan
will follow the Financial Action Task Force (FATF) recommendation of
"enhanced vigilance" of Iranian banking activities, the GOP is
looking for FATF to further define what actions are required for
"enhanced vigilance."
PATTERSON
SIPDIS
E.O. 12958: DECL: 05/23/2018
TAGS: ECON EFIN ETTC KNNP MNUC PREL PK
SUBJECT: PAKISTAN: RESPONSE TO REQUEST FOR VIGILANCE REGARDING BANK
MELLI BRANCH
REF: State 51207
Classified by DCM Peter Bodde, reasons 1.4 (b),(c),and (d)
1. (S) Economic Counselor and Economic Officer delivered reftel
demarche May 22 to senior officials at the Ministries of Finance and
Foreign Affairs (MFA). Both Ministry of Foreign Affairs Americas
Director General Sohail Mahmood and Ministry of Finance Senior Joint
Secretary Iqbal Hussain pledged to share our concerns with relevant
Government of Pakistan (GOP) agencies, including the State Bank of
Pakistan (SBP).
2. (S) EconOff met separately with MFA Director for Disarmament
Kamran Akhtar on May 23. Akhtar stated that the GOP was fully
compliant with UN Security Council resolutions 1803, 1737 and 1747
and remained vigilant with respect to Iranian financial activities in
Pakistan. Aiming to allay USG concerns, he reported that no
Pakistani banks have corresponding relationships with Iranian banks.
The State Bank of Pakistan has frozen accounts belonging to Bank
Sepah, and the GOP has already issued three statutory regulation
orders (SRO) urging banking sector caution with respect to financial
transactions with Iran.
3. (S) Akhtar reported that a final decision has yet to be made on
Bank Melli's request to open a branch in Karachi. While Pakistan
will follow the Financial Action Task Force (FATF) recommendation of
"enhanced vigilance" of Iranian banking activities, the GOP is
looking for FATF to further define what actions are required for
"enhanced vigilance."
PATTERSON