ISLAMABAD: Pakistan’s first & largest asset management company NITL (National Investment Trust Limited), has agreed on Refinitiv’s ‘World-Check’ to meet its compliance demands, ARY News reported on Tuesday.
The Securities and Exchange Commission of Pakistan’s Anti-Money Laundering (AML) and Combating Financing Terrorism (CFT) regulatory framework had ordered NITL to employ the safety measures.
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Refinitiv’s World-Check Risk Intelligence is used by regulated companies to help screen for financial crime risks as part of their anti-money laundering compliance programs.
Refinitiv’s World-Check Risk Intelligence also helps businesses comply with anti-money laundering and countering the financing of terrorism legislation.
“This step marks another milestone for NITL’s vision to ensure effective compliance in line with the SECP’s AML & CFT framework. We are committed to fighting financial crime and will be leveraging our robust technology infrastructure to achieve our compliance vision as we scale our business in a sustainable and responsible manner,” said NITL Managing Director Adnan Afridi.
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“We’re pleased to have been chosen by NIT as it moves towards establishing a solid compliance program. Know Your Customer (KYC) screening is now a critical process in mitigating financial crime and regulators are placing significant attention in this area across their policymaking agenda. We believe this partnership will help NIT take a further step in meeting their regulatory requirements in Pakistan and beyond,” said Refinitiv Managing Director (Middle East and Africa) Nadim Najjar.
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