Finance Minister Asad Umar. PHOTO: PTI
The finance minister met with a delegation of the Asia-Pacific Group (APG), a Financial Action Task Force-style regional body on money laundering in the federal capital, where he conveyed the government's stance on the issue.
The delegation, headed by APG Executive Secretary Gordon Hook, apprised the finance minister its objectives for the trip and meetings it would hold with relevant stakeholders.
APG urges intensified action to curb terror financing
Umar added that the government wants to strengthen laws against money laundering and terror financing in the country.
Earlier on October 9, the APG had urged Pakistan to intensify actions against the non-profit organisations suspected of giving financial aid to terrorist groups and bring more transparency in the steps it is taking over proliferation matters.
Technical experts of the APG had started the 3rd Mutual Evaluation process of Pakistan that will end on October 19.
The experts from the US, the UK, Turkey, Maldives, Indonesia and China had begun to assess steps taken by Pakistan to meet the FAFT recommendations.
Earlier in June, the FATF formally placed Pakistan on the greylist due to ‘strategic deficiencies’ in its anti-money laundering and terrorism financing regime.
The highly anticipated decision was taken by the FATF Plenary that met in Paris from June 24 to 29. The global body took the decision on the basis of a monitoring report of the International Cooperation Review Group (ICRG).
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