KARACHI: State Bank of Pakistan (SBP) and Federal Investigation Agency (FIA) has signed a Memorandum of Understanding (MoU) to improve funding for the fight against terrorism and money laundering, ARY News reported.
According to statement issued by the SBP, SBP Governor Yaseen Anwar and FIA Director General Saud Ahmed Mirza signed the MoU on Monday at SBP Karachi Office.
The agreement will improve the collaboration, cooperation, working relationship and mutual assistance towards enhancing important disciplines in monitoring and controlling anti-money laundering regulations in the financial sector.
A coordination committee comprising officials from each side nominated by the SBP governor and FIA director general had been established, SBP statement revealed.
The committee will examine and develop ways and means of improving coordination between the two organisations in the context of enforcement of financial sector regulations with special emphasis on anti-money laundering measures and prevention of terror financing.
Furthermore, the special committee will design a standard of procedure regarding the joint working of the two institutes.