Pakistan’s largest bank, Habib Bank Limited (HBL), faces secondary liabilities in a terror financing case in the United States in which the plaintiffs had alleged the bank aided and abetted al-Qaeda terrorism and joined in a conspiracy to launch attacks that killed or injured 370 people in Afghanistan between 2010 and 2019.
The bank faces the liabilities under the Justice Against Sponsors of Terrorism Act as a party that “aids and abets, by knowingly providing substantial assistance, or who conspires with the person who committed such an act of international terrorism”, according to a New York district court order issued on September 28.
However, in a statement issued on Thursday, Habib Bank Limited said the allegations were “meritless”, adding that the bank was 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,” the statement read.
