Pakistan to answer 125 questions of FATF in Bangkok today
September 9, 2019
BANGKOK (92 News) – Pakistan’s 15-member economic team led by Minister for Economic Affairs Hammad Azhar will answer 125 questions of Financial Action Task Force’s (FATF) Asia Pacific Group (APG) in Bangkok today on (Monday). A team of Pakistani officials attended the session of holding talks with the FATF’s APG in Bangkok. Pakistani team led by Hammad Azhar will submit replies to 125 questions of the APG, which had been asked to take Pakistan out of the grey list. During the meeting, a session of cross-questioning would also be held between the two sides. Pakistan will give replies for a final evaluation of anti-money laundering and countering the terrorism financing report. The Asia-Pacific Group will analyze Pakistan’s targets and implementations over its overall recommendations. Pakistan will argue its case and present its final defence. The new National Risk Assessment will be presented in the session and the reports for measures to prevent illegal activity in financial institutions will also be submitted. The decisive report will be forwarded to the FATF after the meeting. It was reported that the outcome of the talks would decide whether Pakistan’s name stayed on the grey list or would it be added to the black list. Led by Hammad Azhar, the committee comprises representatives of all the institutions concerned with money laundering and terror financing including the State Bank of Pakistan (SBP), SECP, Director General Federal Investigation Agency (FIA), Federal Board of Revenue (FBR) and the Financial Monitoring Unit (FMU). The next FATF session will be held in Paris by the end of October.