PM Imran Khan has ordered the formation of a 12-member National Financial Action Task Force (FATF) Coordination Committee to ensure that all FATF conditions are met by December 1 this year.
The committee will be led by Hammad Azhar, Minister for Economic Affairs Division, and will also comprise of federal secretaries of finance, foreign affairs and interior besides heads of all the institutions and regulators concerned with money laundering and terror financing.
A notification issue by the PM Office, in this regard, said “The committee is mandated to steer the national effort on FATF”.
According to a report by Dawn News, Pakistan is currently being monitored at three different but interlinked levels — APG, the United States and the FATF — that would play a role in Pakistan being removed from the FATF’s grey list. Because of Pakistan’s progress on various FATF requirements, authorities expect that Pakistan will be able to secure a couple of months of grace period to be fully compliant when the country comes under final review of the FATF by mid-October.
A detailed analysis of FATF’s requirements for Pakistan can be read in Matrix Mag’s first issue below:
