Pakistan will fight its case before the Financial Action Task Force (FATF) on May 15 in Colombo, Sri Lanka, besides undertaking diplomatic efforts for performance-based review of its “robust” compliance with global standards against money laundering and terror financing.
This was the crux of an in-camera briefing to the Standing Committee of the National Assembly on Finance and Revenue. Finance Secretary Muhammad Younus Dagha, the Federal Board of Revenue (FBR) chairman, executive officers of the State Bank of Pakistan, Commissioner of the Securities and Exchange Commission of Pakistan (SECP) and representatives of foreign affairs and National Counter Terrorism Authority (Nacta) updated the committee on FATF compliance.
Pakistan has so far complied with 19 out of 28-29 FATF indicators and made progress on five indicators relating to legislative and administrative actions, the committee was told, according to informed sources. The sources also said the government was hoping to comply with remaining actions by June this year, some of them through the finance bill 2019-20.
