Govt Starts Implementation On Another Compliance Of FATF

Islamabad: Fulfilling the another compliance of Financial Action Task Force, the government has formed a supervisory board to determine investments of banned out-fits and persons connected to them in the national saving schemes.

The additional finance secretary has been made Chairman of the supervisory board while members of finance ministry, State Bank of Pakistan, SECP and FUM are also made part of the board. Besides that DG financial action task force has also been made member of the board.

The supervisory board will take action against violations of the national saving rules while the board will bar money laundering and collection of money for terrorism. While the board will confiscate suspicious investment in the national savings.

It will also take action against people involved in the suspicious investment.

AbbTakk, 01 Oct, 2020

More Business & Finance News

USD To PKR And Currency Rates In Pakistan Today, 26 October 2020

View detail

PSX Weekly Review: KSE 100 Index gained over 1100 points

USD TO PKR: Dollar Rate in Pakistan on October 26

View detail

Gold imports reduced by 73.04pc in first quarter

View detail

Pakistan earns $ 286m from IT services’ export

View detail

Disclaimer: All information on this page are taken from third party reliable sources of relevant industry channels, with simple aim just for general information for our users. Hamariweb never endorse or recommend for any trading advice as well as accuracy of data provided here.