Final negotiations between government, FATF begin

News Desk , Bol News

15:41:59, Sunday, October 07, 2018

Final negotiations between the Financial Action Task Force (FATF) and the government began on Monday in Islamabad.

The FATF Asia-Pacific team reached the federal capital on Sunday night and will be in the country till October 19.

According to sources, the team will meet officials of the ministries of finance and interior, the financial monitoring unit and the state bank during its visit.

The FATF team will review the administrative and legal measures taken by Pakistan to stop the monetary assistance of terrorists, sources said.

The government, sources added, has approved amendments, proposed by the financial watchdog, in the Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) Regulations 2018.

Furthermore, several recommendations to determine money trail have also been given the go-ahead. An alleged terrorist organization, Al-Rahman Trust, has also been banned by the government.

The delegation is also expected to hold meetings with officials of the Securities and Exchange Commission of Pakistan and law enforcement agencies.

A global body that fights terror-financing and money-laundering, FATF had taken the decision to place Pakistan on its grey list during a plenary meeting in February this year. The country was also included in the list from 2012 to 2015.

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