ISLAMABAD (Our correspondent):- The Asia-Pacific Group on Wednesday adopted Pakistan’s mutual evaluation report. The group has also identified a number of deficiencies in the country’s AML/CTF framework.

APG highlighted that the mutual evaluation report does not cover the areas in which the government has made substantial progress since October 2018.

A senior-level delegation from Pakistan has attended the meeting under the leadership of Governor State Bank of Pakistan Dr Reza Baqir. Officials from ministry of finance, SECP, FMU, FBR were also part of the delegation. The APG is meeting from 18th Aug to 23 Aug in Canberra, Australia.

The MER covers the period from February to October 2018. It identifies a number of areas where further actions are required to strengthen the AML/CFT framework.

The APG is the FATF-style regional body for the Asia-Pacific region. It is an inter-governmental organisation founded in 1997 in Bangkok. The mutual evaluation process of the APG is separate from the FATF. But, it is based on the implementation of 40 FATF recommendations.

In the discussions, Pakistan welcomed engagement with the international community in its efforts to countering terrorism and money laundering.

The delegation briefed APG members on the steps taken in recent times for improving its AML/CFT framework. It has also informed about the the actions for ensuring effective implementation of the FATF Action Plan.

They have also held a number of bilateral meetings with key delegations to brief them on recent progress by Pakistan.

During the meetings, Pakistan’s Financial Monitoring Unit (FMU) also signed an MoU with the China Anti Money Laundering Monitoring and Analysis Center (CAMLAC) on exchange of financial intelligence. Before that, Pakistan had also signed same MoU with Dubai to exchange of financial intelligence.

Pakistan is trying to get out from the. FATF grey list and doing hard work.

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