National Bank's Hafizabad branch sealed over fake currency notes scandal

The State Bank of Pakistan (SBP) has sealed the Hafizabad branch of the National Bank of Pakistan (NBP) after detecting fake currency notes worth Rs 2 million deposited in the branch, reported 24NewsHD TV Channel on Sunday.

According to the channel report, in addition to sealing the National Bank's Hafizabad branch, the SBP also imposed a hefty Rs 200 million fine on the bank. 

Sources revealed that the fake currency was deposited via a private bank into NBP’s main Hafizabad branch, raising serious questions about oversight and procedures.

Authorities have launched a high-level investigation to uncover the facts behind the scandal. The involvement of multiple entities has made the case particularly complex, with investigators focusing on tracing the origins of the counterfeit cash.

The incident has highlighted vulnerabilities in the banking system, prompting calls for stricter measures to prevent such occurrences in the future.

Reporter: Mian Azhar