Pakistan’s top civil-military body today reiterated its commitment to fulfilling obligations made to the Financial Action Task Force (FATF) to combat money-laundering and terror financing.
A meeting of the National Security Committee (NSC), chaired by Prime Minister Justice (retd) Nasirul Mulk, discussed the details of the Action Plan and the way forward. The Committee “appreciated” the efforts of the Finance Minister and her team at the forum, an official statement said. The meeting also reviewed the overall economic situation in the country.
Finance Minister Shamshad Akhtar gave a detailed presentation to the participants about the deliberations during the last month meetings of FATF and International Co-operation Review Group held in Paris. “The participants reiterated a firm commitment to fulfilment of obligations regarding combating money-laundering and terror financing,” according to a statement.
In a blow to Pakistan, the FATF has placed it on the grey list for failing to curb anti-terror financing despite Islamabad submitting a 26-point action plan and launching a concerted diplomatic effort to avert the decision. The decision was taken last month at the global financial watchdog FATF’s plenary session in Paris where Finance Minister Akhtar represented Pakistan.
The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.