The international body will review Pakistan’s steps taken to control money laundering and terror financing.
ISLAMABAD: (Urdu Point/Pakistan Point News-Dec 7th, 2019) A five-member delegation of Pakistan will attend an important meeting of the Financial Action Task Force (FATF) today.
According to the details, the Pakistani team would present a report before the international body regarding implementation on its 40 recommendation against money laundering and terror-financing in the country.
FATF—the international body in its previous meeting appreciated Pakistan for carrying out measures to curb money laundering and terror financing. “Pakistan has shown progress in 36 out of the 40 recommendations,”. The body, according to the sources, completed an important point of keeping the data of financial institutions confidential and also show progress on nine recommendations. The report issued by the international body also appreciated Pakistan’s effort, observing that crackdown against benami asset holders was also a good step. The report mentioned all measures taken by the government against money laundering and terror financing.
Islamabad is hopeful that with the support of friendly countries it will manage it to avoid being blacklisted.
