"Moin Khan met with me today and he explained what had happened. He also apologised and admitted he should have been more responsible. We have accepted his apology and the matter is closed," PCB chairman Shahryar Khan told PTI.
"We have closed the matter because our inquiry also found nothing that was contrary to what Moin had already stated to us," he said.
Pakistan lost that match by 150 runs and this led to a big hue and cry over Moin's Casino visit with some of his critics alleging he had gone there to gamble.
Moin had made it clear he had gone there with some friends to have dinner.
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Khan said that he had a long talk with Moin who was repentant for his inappropriate behavior at a time when there was pressure on the national team.
Khan also made it clear that Moin would remain chief selector but would not returning to Australia and New Zealand for the World Cup.
"The rest of the selection committee is already dissolved and we will take a decision on whether to change the chief selector or not after the World Cup," Khan stated.
Sources in the board told PTI that Khan had stopped short of removing Moin as chief selector because of his predecessor, Najam Sethi who had defended the former wicketkeeper-batsman.
"This is not surprising since Sethi was the one who has supported Moin and given him key positions since last year," the source added.
Moin on his part said: "The chapter is closed and I have said before I never realized this would snowball into such a big controversy. I just went to the Casino for dinner on the insistence of some friends".