BEIJING: China has welcomed the decision of the Financial Action Task Force (FATF) to remove Pakistan from its ‘grey list’ on anti-money laundering and counter-terror financing regimes. During his regular briefing, Chinese Foreign Ministry Spokesperson Wang Wenbin welcomed the decision said this shows international support and recognition of Pakistan’s endeavor in this regard. “China welcomes … Read more
ISLAMABAD: Pakistan Tehreek-e-Insaf (PTI) leader Hamad Azhar said Pakistan’s removal from the FATF grey list was not the success of any single person but the entire nation. The former economic affairs minister led the task force on the implementation of FATF Action Plans during the previous PTI government. Addressing a press conference, Hammad Azhar said … Read more
ISLAMABAD: The Ministry of Foreign Affairs thanked the Financial Action Task Force (FATF) members and the international community for providing valuable support during the Action Plan period. The Foreign Office issued a statement stating that the FATF has decided by consensus that Pakistan has completed all “substantial, technical and procedural requirements” of both 2018 and … Read more
PARIS: While the Financial Action Task Force (FATF) meeting in Paris is underway, chances of Pakistan’s getting out of grey list were widely bright, Bol News reported quoting sources as saying. Today is the last of the FATF meeting in Paris. On October 21, FATF President Raja Kumar would address a press conference at the … Read more
ISLAMABAD: Pakistan a termed a recent visit of the Financial Action Task Force (FATF) team as “smooth and successful” and said the focus was to validate commitment in Ant-Money Laundering and Counter-Terror Financing (AML/CLT) domain. Foreign Office spokesperson was responding to media queries about news reports that recently appeared in local media about Pakistan’s current … Read more
ISLAMABAD: A 15-member team of the Financial Action Task Force (FATF) has concluded a five-day visit to Pakistan, a move that could pave the way for Pakistan to finally exit the grey list by the global financial watchdog. A special unit of the Federal Board of Revenue (FBR) briefed the FATF delegation on the measures … Read more
ISLAMABAD: Foreign Minister Bilawal Bhutto Zardari welcomed Financial Action Task Force’s unanimous acknowledgment of completion of action plans, In a statement by the Foreign Office, the foreign minister said that announcement by the FATF plenary of granting an on-site visit to Pakistan was a welcome development. He reaffirmed that the government of Pakistan was committed … Read more
ISLAMABAD: Prime Minister Shehbaz Sharif on Saturday commended relevant persons and institutions in synergizing efforts for being removed from the Financial Action Task Force (FATF) grey list. The prime minister telephoned Chief of Army Staff General Qamar Javed Bajwa and congratulated him on this all important achievement. PM Shehbaz Sharif praised the army chief in … Read more
KARACHI: The investment in registered prize bonds has surged over 140 per cent by December 31, 2021; following the drive of documentation initiated by the government. According to the official data released by the Central Directorate of National Savings (CDNS), the investment in registered or premium prize bonds sharply increased to Rs54.92 billion by the … Read more
KARACHI: The Customs Intelligence and Investigation (I&I), Karachi has unearthed cases of trade-based money laundering ahead of a review meeting on Pakistan by the Financial Action Task Force (FATF). The FATF retained Pakistan in the grey list in its last meeting held in October 2021 till the next meeting scheduled for February 2022. Sources in … Read more
KARACHI: Pakistan’s economy is again at crossroads mainly due to its inconsistent economic policies and weak implementation of structural reforms. This is evident from the Budget FY22, by way of which the fiscal policy became expansionary and several key EFF commitments were reversed to spur growth; which also included low petroleum development levy (PDL) and … Read more
LAHORE: Speakers at a seminar have stressed the need of devising a strategy for facing the challenges of economic warfare, a statement said on Friday. “Trade embargoes, economic sanctions, tariff discrimination, freezing of capital assets, suspension of aid and prohibition of investment are some of the common tools of economic warfare,” they said while speaking … Read more
The seventh international seminar of the Organisation of Islamic Cooperation (OIC) Independent Permanent Human Rights Commission on Corruption and Human Rights has adopted the Islamabad Declaration, urging all states to introduce strong anti-corruption legislation and step up efforts to address the injustices and other negative consequences of corruption. The declaration was adopted at the concluding … Read more
The annual US report on terrorism acknowledged that Pakistan took steps in 2020 to tackle terrorism financing, restrain India-focused militant groups and meet additional progress towards completing the Financial Action Task Force (FATF) Action Plan and made positive contributions to Afghanistan peace process. Read more: Pakistan is test case for FATF’s fairness, says law minister … Read more
LUANDA: Angola is to submit its system evaluation information to the Eastern and Southern Africa Anti-Money Laundering Group (ESAAMLG) on Dec. 15, for the ESAAMLG to form a mutual evaluation report on the country, Director of the Financial Information Unit of Angola Francisca de Brito said Thursday. Brito explained that the first mutual evaluation of … Read more
ISLAMABAD: The European Union (EU) has welcomed the progress made by Pakistan to implement the Financial Action Task Force (FATF) action plans and also lauded adoption of the “Protection of Journalists and Media Professionals Bill” by the parliament, that later became an act with the presidential approval. A joint communiqué issued early Wednesday at the … Read more
LAHORE: Despite the continuous efforts of Prime Minister Imran Khan-led Pakistan Tehreek-e-Insaf (PTI) government to get Pakistan out of the Financial Action Task Force (FATF) grey list, the global money-laundering watchdog announced the otherwise on Thursday. Announcing the decision after a five-day virtual plenary session on October 21, FATF head Marcus Pleyer said that Islamabad … Read more
ISTANBUL: Law Minister Farogh Naseem has termed Pakistan a test case for the fairness of the Financial Action Task Force (FATF) as, he added, it has done “everything” to get off the grey list. In an exclusive interview with the Anadolu Agency on the sidelines of an event in Istanbul, Naseem said the Global money-laundering … Read more
