US Treasury Department official to visit Pakistan
In a press release, the Treasury Department said that his visit is a part of their global engagement on combating terror financing and money laundering, and to discuss the implementation of international economic sanctions.
The press release said that Under Secretary Cohen will meet senior government officials and representatives from the private sector in Islamabad and Karachi. He will also be travelling to Abu Dhabi and Dubai in the UAE; and Delhi and Mumbai in India.
“Under Secretary Cohen will also hold a series of discussions with members of the formal and informal financial sectors in each country to discuss the risks of illicit finance and sanctions evasion that those sectors face, and steps that governments and the financial sector can take to protect the global financial system,” said the Treasury Department release.
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He is mandated to curb the use of Hawala (parallel bamking) in financing terrorism. Most of the terrorism money flows through banks in UAE. He should get some lessons from non state actors in terrorism financing 101.