FATF Asia-Pacific Group to hold follow-up talks with NAB today
October 17, 2018
ISLAMABAD: A delegation of the Financial Action Task Force’s (FATF) Asia Pacific Group (APG) will hold follow-up talks with officials of the National Accountability Bureau (NAB) today (Wednesday).
As per a meeting agenda obtained by Geo News, the APG delegation will also meet officials of the State Bank and Ministry of Finance today.
The meetings will focus on curbing money laundering and financial assistance to terrorists.
A meeting will also be held with the attorney general during which matters pertaining to the prosecution will be discussed. The APG delegation will also meet representatives of the provincial high courts.
The agenda further mentions meetings with officials of the Anti-Narcotics Force and real estate agents.
The APG delegation is scheduled to hold meetings with Pakistani officials till October 19 after which it will submit its report on recommendations to the FATF on October 21.
Last month, APG officials visited Pakistan and finalised the agenda for final talks following which the government took measures based on FATF’s recommendations.
According to the sources, the government 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 green light. An alleged terrorist organisation, Al-Rahman Trust, has also been banned by the government, the sources added.
In June, the FATF said Pakistan had made “a high-level political commitment” to work with the global watchdog and Asia/Pacific Group on Money Laundering (APG) to strengthen its anti-money laundering and combating the financing of terrorism regime.
Pakistan was formally added to the grey list of countries involved in providing monetary assistance to terrorism and related causes after a June meeting of FATF in Paris.
FATF, a global body that combats terror financing and money laundering, 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.
