Throttling Funds: Govt introduces bill on terror financing

According to the bill, violation of the act can entail imprisonment of up to five years or a fine of up to Rs500,000.


Our Correspondent November 12, 2012

ISLAMABAD:


The government on Monday introduced a much-awaited bill to amend the existing Anti-Terrorism Act regarding terrorism funding.


“The Bill addresses the shortcomings relating to terrorist financing provisions in the Anti-Terrorism Act, 1997 that were highlighted by Financial Action Task Force – an international body comprising a number of countries and international organisations and which sets and monitors international standards on anti-money laundering and counter-financing of terrorism,” said the statement of objectives of the bill moved by Religious Affairs Minister Syed Khursheed Shah.

The amendment “shall improve the regime for freezing, seizure and forfeiture of property used for terrorism by terrorists and terrorist organisations.”

Interestingly, Interior Minister Rehman Malik, who had always been talking about the bill whenever there was a discussion over the subject, was absent from the house. The minister was supposed to move the 14-clause bill.

The bill said that violation of the act could entail imprisonment of up to five years or a fine of up to Rs500,000.

Published in The Express Tribune, November 13th, 2012.

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