Finance minister reviews implementation of FATF action plan

ISLAMABAD: Finance Minister Asad Umar on Friday reviewed the progress made regarding the implementation of the Financial Action Task Force’s (FATF) action plan.

While chairing a meeting of National Executive Committee (NEC), the federal minister said that the committee was a high level body established to oversee both policy and implementation matters of the anti-money laundering and counter financing of terrorism regime.

Different stakeholders briefed on the progress in their respective areas of the action plan as well as other AML/CFT areas, according to a press release.

During the meeting, Finance Minister Asad Umar emphasized the need to put more efforts in order to meet adhere to international standards for the AML/CFT regime.

The finance minister was of the view that the action plan may be seen as an opportunity rather than a challenge, adding that it would set the foundation for a robust AML/CFT regime in Pakistan as per international standards.