Pakistan, FATF officers proceed dialogues in Beijing

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BEIJING: The officers of Pakistan and Monetary Motion Activity Pressure have continued dialogues in Beijing the place the implementation report of Islamabad was reviewed relating to the four-month progress on the FATF motion plan, citing sources, ARY Information reported on Wednesday.

Sources mentioned FATF officers had been briefed over four-month progress on the implementation of the motion plan by Pakistani officers. The briefing was given by Federal Minister for Financial Affairs Hammad Azhar which highlighted the efficient measures taken by the federal government for anti-money laundering (AML) and counter monetary terrorism (CFL).

The report submitted by the Pakistani officers was additionally reviewed by the FATF officers in Beijing.

Learn: Hammad Azhar says Pakistan to come back out of FATF’s gray record in February 2020

Hammad Azhar mentioned that strict ban has been imposed on outlawed outfits, whereas, the speed of case registration beneath terror-financing rises as much as 451 per cent and arrest made beneath the class will increase as much as 677 per cent.

He elaborated that the speed of penalties imposed in terror-financing circumstances has witnessed rise as much as 403 per cent, whereas, the involved establishments have seized Rs314.2 million.

Azhar, whereas offering statistics to the FATF officers, mentioned 827 circumstances had been registered beneath the class of terror-financing until December 2019 moreover 1,104 arrests throughout the nation. 196 out of 1,104 detained individuals have been pronounced sentences, whereas, 387 circumstances had been registered in Khyber Pakhtunkhwa (KP), sources mentioned.

Learn: FO condemns Indian Basic’s remarks on FATF, Kashmir

Sources mentioned FATF officers have expressed satisfaction over the implementation report throughout the ongoing dialogues which will probably be continued until Thursday (tomorrow).

A Pakistani delegation, headed by Minister for Financial Affairs Hammad Azhar, had arrived in China’s capital on January 20 to carry talks with the Monetary Motion Activity Pressure (FATF) Working Group.

The necessary three-day face-to-face talks with the worldwide cash laundering and terror financing watchdog commenced from January 21 and it’ll proceed until January 23.



The delegation includes representatives of the International Ministry, Inside Ministry, State Financial institution of Pakistan (SBP), Customs, Nationwide Counter Terrorism Authority (NACTA) and Monetary Monitoring Unit (FMU).

Learn: Pakistan submits implementation report of FATF motion plan: sources

Sources say Pakistan has already launched efforts, together with contacting FATF member nations, to get off the watchdog’s gray record.

Islamabad had despatched a 650-page assessment report back to the FATF on January eight in response to 150 questions raised by the watchdog.

The Pakistani delegation would put ahead particulars in regards to the measures the nation has to this point taken from Oct onward in gentle of the suggestions of the FATF Motion Plan.

The sources mentioned FATF’s plenary session slated for Feb 16 in Paris will consider Pakistan’s measures to fight terror financing and cash laundering as voting can even happen to contemplate the nation’s exit from the record.

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