pakistan gets six more months to fix antimoney laundering laws
Last Updated : GMT 05:21:58
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 05:21:58
Arab Today, arab today

Pakistan gets six more months to "fix" anti-money laundering laws

Arab Today, arab today

Arab Today, arab today Pakistan gets six more months to "fix" anti-money laundering laws

Anti-money laundering laws in Pakistan.
Islamabad - Arab Today

Pakistan has got six more months from the Asia Pacific Group (APG) — an arm of the Paris-based Financial Action Task Force (FATF) — to “fix” its anti-money laundering laws and take effective measures to curb terror financing and illegal remittances.

“The APG delegation has pointed out lacunae in our different laws and we will plug them all soon through proper legislation,” Noor Ahmed, special secretary Ministry of Finance, told Arab News.
“Our institutions have explained their positions and actions taken so far to curb money laundering in their meetings with the APG delegation,” he said. “We have noted their recommendations as well.”
Pakistani officials, however, did not give details of what recommendations had been proposed by the APG delegation.
Pakistan was placed on the FATF “gray list” in June this year by the global watchdog in Paris after a review of the monitoring report of the International Cooperation Review Group.
This is the second visit by the FATF team in the past three months. In August, a FATF team visited Islamabad for a similar assessment.
Last week a Pakistani delegation also participated in an FATF meeting in Paris, to apprise the global watchdog about efforts to get off the “gray-list.”
Earlier, Pakistan and the FATF had also negotiated a 10-point action plan to be implemented by September 2019 to get off the gray list.
“We have got six more months to make our systems more robust and as per the international standard,” Saeed Javed, director general (media) of Finance Ministry, told Arab News.
He said that the APG would visit Pakistan in March-April next year for another on-site review and check the progress made in light of the group’s recommendations.
The FATF is an intergovernmental body established in July 1989 during a Group of Seven (G7) summit in Paris.
Its objectives are to set standards and promote the effective implementation of legal, regulatory and operational measures for combating money laundering, terrorist financing and other related threats to the integrity of the international financial system.
Dr. Farrukh Saleem, the government’s focal person on economy, earlier told Arab News that the government had finalized amendments in laws including the Federal Investigation Agency Act 1974, the Foreign Exchange Regulation Act 1947, the Customs Act 1969, and the Anti-Money Laundering Act 2010, to strengthen its financial system.
“The amendments proposed in these laws will be presented to the prime minister and cabinet for approval,” he said.

From: Arabnews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

pakistan gets six more months to fix antimoney laundering laws pakistan gets six more months to fix antimoney laundering laws

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

pakistan gets six more months to fix antimoney laundering laws pakistan gets six more months to fix antimoney laundering laws

 



Arab Today, arab today Modern colorful bedroom renovation

GMT 11:23 2017 Thursday ,21 December

Modern colorful bedroom renovation
Arab Today, arab today For the Variety of Interior Design Styles

GMT 11:14 2017 Tuesday ,19 December

For the Variety of Interior Design Styles

GMT 15:49 2017 Wednesday ,01 February

Nigeria's 2Face fronts economy protest march

GMT 17:16 2017 Thursday ,30 November

Norway to put up fence to stop reindeer slaughter

GMT 08:34 2016 Saturday ,24 December

Russia has sent battalion of military police

GMT 05:43 2017 Thursday ,12 October

Dubai Islamic Bank third-quarter profit up 26%

GMT 04:05 2017 Tuesday ,24 October

Nicaragua signs Paris climate agreement

GMT 13:50 2017 Wednesday ,01 November

Baby bats learn language from peers

GMT 17:23 2018 Saturday ,27 October

Daesh kills 60 US-backed fighters in eastern Syria

GMT 00:07 2013 Sunday ,28 July

South African ban lifted on \'child porn\' film

GMT 08:54 2018 Monday ,22 January

Bahrain arrests 47, charges 290 in mass crackdown

GMT 01:28 2018 Wednesday ,10 January

Indian airline fires pilots over mid-air row

GMT 05:39 2018 Tuesday ,09 January

Richardson's late strike lifts Heat over Jazz

GMT 11:28 2018 Wednesday ,03 January

Aoun: We succeeded overcoming crisis thanks to our unity

GMT 10:52 2016 Saturday ,03 September

On middling US jobs data

GMT 08:43 2017 Friday ,29 December

US, Turkey put end to visa spat

GMT 19:29 2014 Thursday ,04 December

Circumcision benefits outweigh risks, pain

GMT 06:17 2017 Thursday ,21 December

Robot 'Trump' at Disney as controversial

GMT 02:14 2017 Monday ,18 December

Buk missile downed MH17 in Ukraine

GMT 07:14 2016 Wednesday ,06 April

Vivendi launches premium series for mobiles
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday