November 29, 2021

FATF Puts Forward Two More Conditions For Pakistan

The Financial Action Task Force has said that Pakistan has to make the policy of CNIC based invoicing mandatory for all transactions with jewelers and has directed the SBP to gather data of all prize bond owners. These two conditions have been added to an existing 28 points compliance list of the FATF, given to Pakistan, to get out of the grey list. According to experts, these measures would help to curb terror financing activities in the country.

The Minister for Economic Affairs Hammad Azhar said that it is highly unlikely that Pakistan would be put on the black list of the FATF. However, the Asia Pacific Group of the FATF had some concerns regarding the efforts made by Pakistan and the country has made several efforts to comply with the reservations of the group. FATF will formally announce it’s decision in the upcoming meeting on October 13, 2019.

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