Executives and boards of directors of financial institutions, including commercial banks, face ousters from office as the government tightens rules to curb terror financing.
The Interior Ministry has proposed amendments to the Prevention of Terrorism (Implementation of the United Nations Security Council Resolutions on Suppression of Terrorism) Regulations, 2023, empowering the Financial Reporting Centre (FRC) to suspend managers, board of directors, and supervisory and executive management members found in breach of anti-terror financing regulations.
