Dialogue between Pakistan, FATF enters in new phase

FATF Pakistan dialogue China US finance secretary
17 May, 2019 11:58 pm

BEIJING (92 News) – The three-day dialogues between Pakistan and Financial Action Task Force (FATF) have entered in a new phase on Friday.

In the second phase of talks, Pakistani officials presented its arguments to the FATF officials about Islamabad’s efforts against money laundering and terror financing. However, three-day dialogues between Pakistan and FATF concluded in Beijing.

Pakistani officials presented efficiency report, in which, briefed about the steps to tackle with banned outfits. A Pakistani delegation led by Finance Secretary Younus Dagha answered the questions with briefing of technical matters.

The sources said that State Bank of Pakistan, NACTA and SECP presented the case of Pakistan passionately. They told the FATF about the law draft of the proposed ban on the foreign exchange in Pakistan.

However, FATF will review the drafts and lists presented by Pakistan during this week.

It was reported that that the Customs officials apprised the FATF delegations bout measures taken to stop currency smuggling. They also informed the FATF about steps being taken to stop money laundering and 10-point action plan.

The international institution was also briefed how Pakistan stopped banking and non-banking funding of terrorists.

The next round of talks will be held from June 17-20 in the United States of America.

Pakistan gives befitting reply to FATF on Indian allegations in China

In the in Financial Action Task Force (FATF) talks, India faced another humiliation being held in China after Pakistani delegation gave befitting reply on Indian allegations.

A twelve member Pakistani delegation led by secretary finance Younis Dhaga attended the FATF meeting in China. Pakistan apprised Financial Action Task Force of its actions against terrorism and submitted its plan to curb currency smuggling by increasing security checks on inner and outer roots.

The delegation also told Financial Action Task Force about the reforms being introduced in Madaris and about action taken against proscribed organizations.  Younis Dhaga told the meeting that Pakistan has put banned organizations in high risk list and their assets were freezed.

The meeting was attended by delegations of USA, China, India, Germany, UK, Australia, Malaysia and Turkey.

The Indian co chairman of Financial Action Task Force raised unnecessary questions to which Pakistan answered wisely.

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