Anti-money laundering: SBP, FIA to deepen cooperation
The committee will examine and develop ways and means to improve coordination in the context of enforcement of financial sector regulations. PHOTO: FILE
The State Bank of Pakistan (SBP) and the Federal Investigation Agency (FIA) have signed a memorandum of understanding (MoU) to further formalise coordination between the two institutions.
SBP Governor Yaseen Anwar and FIA Director General Saud Ahmed Mirza signed the document at the SBP Karachi office on Monday.
The MoU will help improve and enhance collaboration, cooperation, working relationship and mutual assistance towards enhancing monitoring and controlling anti-money laundering regulations in the financial sector.
A coordination committee has also been established comprising officials from each side nominated by the SBP governor and FIA DG. The committee will examine and develop ways and means to improve coordination in the context of enforcement of financial sector regulations with special emphasis on anti-money laundering and prevention of terrorist financing.
Both institutions feel that preventive measures should be adequately enforced.
Published in The Express Tribune, January 14th, 2014.