Thursday, October 29, 2020

FATF group’s crucial visit of Pakistan’s fate for white listing or more time

Featured

Meezan Bank inks deal with BPC Banking Technologies to accommodate Pakistan’s digital payments boom

Pakistan’s largest Islamic bank kicks off its digital transformation program with the upgrade of its legacy payment platform The partnership...

Armenian defense denies targeting civilian sites in Azerbaijan

The Armenian Ministry of Defense denied targeting civilian sites in Azerbaijan, according to an urgent news broadcast, Azerbaijan announced...

Harris promised to end Trump’s policies on asylum restrictions and ensure immigrant dignity

Democratic candidate for US Vice President Kamala Harris promised to work with Democratic presidential candidate Joe Biden to put...
Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]

A well-informed source confirmed that the high leveled team of Financial Action Task Force (FATF) will arrive Islamabad, capital city of Pakistan on Sunday evening. The FATF group during the stay in Pakistan will review the steps taken by Pakistan against Money Laundering, terror financing.

The team of FATF Asia Pacific group will meet the officials of the ministries of interior, finance, foreign affairs and law besides the State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), National Counter-Terrorism Authority (Nacta), Federal Investigation Agency (FIA), Federal Board of Revenue (FBR), National Accountability Bureau (NAB), Anti-Narcotics Force (ANF), Financial Monitoring Unit (FMU), Central Directorate of National Savings and provincial counter-terrorism departments.

FATF group will review steps taken by Pakistan against ML/CFT

The briefings by the officials of Pakistan will began from Monday and during the presentations, government source told ‘WNObserver’ that the crucial round of briefings and explanations would start from Wednesday and the FATF group will prepare report at the conclusion of their tour of Pakistan to submit final report to the committee of FATF.

Crucial round of briefings and explanations would start from Wednesday

It is pertinent to mention here that Pakistan has responded to targeted financial sanctions and asset freezing of identified organisations and measures to block flow of funds to banned/proscribed organisations like Jaish-e-Mohammad, Lashkar-e-Taiba, Falah-i-Insaniyat Foundation under the UN resolutions.

An official said Pakistan had made satisfactory progress on all the 27 actions required under the FATF and had fully complied with the five specific questions earlier.

Pakistan had made satisfactory progress on all the actions required under the FATF

In June last year, Pakistan made a high-level political commitment to working with the FATF and APG to strengthen its AML/CFT regime and to address its strategic counter-terrorism financing-related deficiencies by implementing an action plan to accomplish these objectives.

The successful implementation of the action plan and its physical verification by the APG will lead the FATF to clear Pakistan out of its grey list or more time before September 2019.

Read also: Pakistan sails between FATF and IMF smoothly

 

Zubair Yaqoob
Zubair Yaqoob
The author has diversified experience in investigative journalism. He is Chief content editor at wnobserver.com He can be reached at: [email protected]
- Advertisement -

Latest News

Meezan Bank inks deal with BPC Banking Technologies to accommodate Pakistan’s digital payments boom

Pakistan’s largest Islamic bank kicks off its digital transformation program with the upgrade of its legacy payment platform The partnership...

Telenor Pakistan Bags Network Transformation Awards 2020 for CCS

In line with its commitment to strengthening the pillar of connectivity and providing high-quality broadband services across the length and breadth of the country,...

Shell Pakistan announces a profit in Q3 2020

The Board of Directors of Shell Pakistan Limited (‘SPL’) announced the third-quarter results for the company. Shell posted an after-tax profit of PKR 1,812...

Armenian defense denies targeting civilian sites in Azerbaijan

The Armenian Ministry of Defense denied targeting civilian sites in Azerbaijan, according to an urgent news broadcast, Azerbaijan announced that 4 civilians were killed...

Harris promised to end Trump’s policies on asylum restrictions and ensure immigrant dignity

Democratic candidate for US Vice President Kamala Harris promised to work with Democratic presidential candidate Joe Biden to put an end to the policies...

Related News