You are currently viewing Pakistan improves mechanism to handle AML/CFT issues
Dr. Shamshad Akhtar

Pakistan improves mechanism to handle AML/CFT issues

ISLAMABAD: The Finance Minister, Dr. Shamshad Akhtar said Friday that the Finance Ministry has improved institutional mechanisms for handling Anti-Money Laundering and Countering Financing of Terrorism (AML/CFT) issues.
Chairing a meeting here Friday in the wake of Financial Action Task Force (FATF) Plenary meeting in Paris, the Minister expressed Pakistan’s strong resolve to keep up efforts on the counter financing of terrorism.
Foreign Minister, Abdullah Hussain Haroon and National Security Advisor Lt. General (retd) Nasser Khan Janjua, were also present on the occasion.
She added that the coordination between Central Bank, banking institutions, and law enforcement agencies have also been strengthened to curb money laundering and terror financing.
She invited participants to share their views and suggestions to further strengthen measures and put in place a strong implementation mechanism in this regard.
The participants while underscoring Pakistan’s resolve to further strengthen the AML/CFT regime emphasized and agreed on the formation of a high-level implementation committee to regularly oversee progress made by different agencies and departments engaged in the drive to counter financing of terrorism.
The meeting stressed inter-governmental cooperation as well as inter-agencies coordination for better results. The meeting was also briefed on the preparations by Pakistan’s delegation scheduled to attend FATF meeting at Paris.

M M Alam

M. M. Alam is a Pakistan-based working journalist since 1981. Karachi University faculty gold medalist Alam began his career four decades ago by writing for Dawn, Pakistan’s highest circulating English daily. He has worked for region’s leading publications, global aviation periodicals including Rotors (of USA) and vetted New York Times as permanent employee of daily Express Tribune. Alam regularly covers international aviation and defense-related events including Salon Du Bourget (France), Farnborough (United Kingdom), Dubai (UAE). Alam has reported thousands of events and interviewed hundreds of people in Pakistan, UAE, EU, UK and USA. Being Francophone Alam also coordinates with a number of French publications.