Canindia News

APG to file report on Pak’s steps against terror funding

Islamabad, Sep 12 (IANS) The Asia-Pacific Group (APG) next month will submit its assessment of Pakistans progress on strengthening of its systems against money laundering and terror financing, a media report said on Thursday.

“The Pakistan delegation effectively presented Pakistan’s progress on each of the Financial Action Task Force (FATF) Action Plan items and provided additional information/clarification to the AP-Joint Group,” a statement issued by the Ministry of Finance said after two-day face-to-face meetings with the APG, a regional affiliate of the FATF, in Bangkok.

It said the APG, as per the FATF’s procedures, would present its report in the FATF Plenary and Working Group meetings scheduled for October 13-18 in Paris, France, Dawn news reported.

The FATF plenary will conclude if Pakistan has sufficiently delivered on its 10-point action plan committed at the highest level in June 2018 to fight money laundering and terror financing in order to qualify exit from the ‘grey list’ or be given some more time to make further progress.

A 15-member Pakistan delegation, led by Minister for Economic Affairs Division Mohammad Hammad Azhar, attended the two-day meetings with the APG to discuss progress on the FATF action plan.

The development comes after the APG on August 23 place Pakistan under its enhanced monitoring mechanism after it failed to comply with 11 recommendations out of 40.

–IANS

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