PESHAWAR - The State Bank of Pakistan has issued instruction to all banks and financial institutions to monitor money laundering, suspicious transactions and checking of funds transfer to the terrorists.

SBP has also warn those banks , which have  weak surveillance system and their monitoring  does not come to the mark and gave them three days time to acquire required software and implement proficient monitoring system in their  institutions failing which heavy fines would be levied on banks.

In his circular, Governor State Bank of Pakistan also instructed the bank not to open account without getting full details of account holders in any case.