Follow-up talks to take place today between FATF delegation and NAB
ISLAMABAD: A delegation of the Financial Action Task Force’s (FATF) Asia Pacific Group (APG) will meet the officials of the National Accountability Bureau (NAB) on Wednesday (today) in order to hold follow-up talks.
As per sources, the FATF mission will also meet officials of the State Bank and Ministry of Finance today.
The focal point of the meeting will be curbing money laundering and terror financing.
More meetings are also expected to take place with the attorney general, representatives of the provincial high and officials of the Anti-Narcotics Force and real estate agents.
FATF Asia-Pacific team will be in the country until October 19 to review the administrative and legal measures taken by Pakistan to curb the financial assistance of terrorists.
Following several meetings with Pakistani officials until October 19, the Asia-Pacific mission will submit its report on recommendations to the FATF on October 21.
Last week, the delegation of Financial Action Task Force demanded from the government of Pakistan to take a number of steps to ameliorate its position on the global forum.
The FATF team asked the government to keep the record of transactions, from 3000-15000 US dollars and euros, taking place in the form of assets, gold and other sectors like metal business and law firms.
The initiative will also be applicable on accountants, trust and service providing companies.
In June this year, Pakistan vowed to implement the action plan negotiated with the Financial Action Task Force to address concerns of the international community.
Pakistan’s name was placed on the ‘grey list’ during the FATF Plenary session in Paris on June 28.