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FATF: China lauds Pakistan’s ‘enormous efforts’ in improving CTF regime

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Web Desk
Web Desk
News Stories Posted by ARY News Digital Team

BEIJING: China on Friday lauded Pakistan for making “enormous efforts” in improving its the counter-terror financing (CTF) regime.

In the wake of the global money laundering and terror financing watchdog’s plenary meeting in Paris, a spokesperson for the Chinese Foreign Ministry said in a tweet: “Pakistan has made enormous efforts in improving its CTF regime, which has been recognized by the majority of FATF members at the latest plenary meeting in Paris.”

“China & other countries will continue offering assistance to Pakistan in this area,” the spokesperson added.

Read More: Pakistan avoids blacklist as FATF applauds actions against terror financing: sources

Sources say the FATF has given Islamabad four more months (until June 2020) to implement its 27-point action plan.

The sources said India’s bid to drag Pakistan into the blacklist of the FATF was foiled and member states of the body applauded the country’s efforts towards implementing their recommendations on the 14 out of a total of 27 targets.

During the review process, the member states expressed satisfaction over the actions taken by the State Bank of Pakistan (SBP), Security and Exchange Commission of Pakistan (SECP), Federal Board of Revenue (FBR) and Financial Monitoring Unit (FMU).

Read More: Premature to speculate on FATF decision, says Hammad Azhar

“The FATF also expressed its satisfaction over the working of NACTA along with the steps taken towards carrying out legislation against the smuggling of dollars from the country,” they said.

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