Islamabad: The federal government on Monday gained the National Assembly’s (NA) approval for passing two new Financial Action Task Force (FATF)-related bills – the Anti-Money Laundering (Second Amendment) Bill and the Islamabad Capital Territory (ICT) Waqf Properties Bill, according to news sources.
The Anti-Money Laundering (Second Amendment) Bill, 2020, seeks increased penalty for money-laundering individuals and also seeks timely intimation and information from financial institutes on suspicious transactions. Also, these institutes will be required to maintain transaction records for a period of five years.
As for the Islamabad Capital Territory Waqf Properties Bill, 2020; it is related to the proper administration and management of the waqf properties within the Islamabad Capital Territory (ICT).
The assembly further approved some changes made to the already-approved Companies (Amendment) Bill and the Limited Liability Partnership Bill. Reportedly, the government made a full-appearance at the house and bills were approved in the presence of all members of the federal cabinet and the treasury members.
Hazafa reveres the art of writing and has been turned into a property enthusiast by profession. Her daily survival kit includes; tea, coffee, keyboard and paperbacks.
