Connect with us

Hi, what are you looking for?

Latest News
• Governor Sindh Imran Ismail met Prime Minister Imran Khan today • Restoration of industrial process is government’s foremost priority: PM Khan • Afghan parliament speaker Mir Rehman Rehmani visits National Assembly Pakistan • Coronavirus positivity rate 40% higher over past four days: NCOC • Case fatality rate now 2.06% compared to global average 2.72%: NCOC • Man impersonating army captain arrested in Rawalpindi • Police confiscated fake uniforms, badges from him • Fawad Chaudhry confirms launch of country's OTT service • Sindh govt. announces public holiday on Oct 30 for 12th Rabi ul Awwal • Today is the last day of FATF virtual meeting • PDM Quetta rally venue changed after threat alert issued • It will be held at the Ayub Stadium • Federal govt. won't start developing islands without telling Sindh: Attorney-General Sindh • High Court hears petition against Centre's control of islands • Islamabad's PIMS shuts down wards over coronavirus rise • Nephrology ward closed, dialysis only available to Islamabad residents • Total number of coronavirus cases reported in the last 24 hours are 736 • Among them 13 died due to the virus • KP government to introduce ‘Kalash Marriage Act’ • It will legalise marriages, divorces • Cristiano Ronaldo tests positive for coronavirus again: reports • Juventus striker in quarantine at his home in Turin • India's World Cup winning former captain Kapil Dev suffers heart attack • Kapil has reportedly undergone angioplasty at a hospital in the Indian capital and is recovering

Economy

FATF to review Pakistan’s performance on ML & TF this month

ISLAMABAD: A virtual meeting of the Financial Action Task Force (FATF), plenary scheduled for October 21-23, will decide if Pakistan should be excluded from its ‘grey list’, based on a review of Islamabad’s performance to meet global commitments and standards on fight against Money Laundering and Terror Financing (ML&TF).

The FATF plenary was earlier scheduled in June but Islamabad got an unexpected breather after the global watchdog against financial crimes temporarily postponed all mutual evaluations and follow-up deadlines in the wake of grave health risk following the Covid-19 pandemic. The Paris-based agency also put a general pause in the review process, thus giving additional four months to Pakistan to meet the requirements.

In February, the FATF had given Pakistan a four-month grace period to complete its 27-point action plan against ML&TF committed with the international community when it noted that Pakistan had delivered on 14 points but missed 13 other targets. On July 28, the government reported to parliament compliance with 14 points of the 27-point action plan and with 10 of the 40 recommendations of the FATF.

By September 16, however, the joint session of the parliament amended about 15 laws to upgrade its legal system matching international standards as required by the FATF. The government has already submitted its report to the FATF and its affiliated review groups and responded to their comments, detailing compliance with the 13 outstanding action points.

Report by: The Truth International

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Advertisement

Latest

Latest Updates

Pakistan is all set to launch its first online streaming service, announced Federal Science and Technology Minister Fawad Chaudhry on Friday. He called the...

Latest Updates

Adviser to the Chief Minister on Minority Affairs Wazirzada said the act is being formulated in consultation with 74 judges, experienced lawyers, and influential...

Latest Updates

In continuation with a series of escalating warnings, the National Command and Operation Centre (NCOC) has sounded the alarm over the average positivity ratio...

Advertisement Enter
ad code here

Facebook

International Relations

Shelling by Indian forces has affected all facets of life and created humanitarian issues in AJ&K

Political Affairs

Water shortage in Sindh is a reality, especially in the tail areas of many districts, which has made millions of acres of irrigated land...

International Relations

The region where Pakistan is located is undergoing a transformative phase that is witnessing changes in perceptions, policies, and ground realities. The region, which...

Political Affairs

Even the man in the street here is well versed in the “Minus One Formula” as the phrase is a regular feature of our...

Copyright The Truth International © 2020