| Submit your comments on this article |
| India-Pakistan |
| Finance minister rules out placement of Pakistan on FATF blacklist |
| 2018-09-01 |
| [DAWN] Ruling out placement of Pakistain on the Financial Action Task Force’s (FATF) blacklist, Finance Minister Asad Umar said on Friday that the negotiated action plan with the FATF would be implemented. Answering a calling attention notice in the Senate, he said September 2019 was the deadline for compliance, observing that Pakistain would finally be out of the grey-list. He said 27 deficiencies in five broad categories had been identified in Pakistain’s anti-money laundering and terror financing regime, adding that the basic areas identified were currency smuggling, hawala and financing to proscribed organizations. ACTION PLAN NEGOTIATED WITH THE ANTI-TERROR FINANCING WATCHDOG WILL BE IMPLEMENTED, ASAD UMAR TELLS SENATE He told the house that he saw as an opportunity what many regarded as a challenge. "There is nothing we cannot comply with. FATF or no FATF, it is in our own national interest," he remarked. He said a national executive committee had been formed to deal with the issue which included representatives from the Securities and Exchange Commission of Pakistain (SECP), National Accountability Bureau (NAB), Federal Investigation Agency (FIA) and other relevant institutions. He said the first review meeting of the committee would be held on Sept 8. |
| Posted by:Fred |
| #1 "Ruled it out", did he? |
| Posted by: Frank G 2018-09-01 07:44 |