Islamabad: The National Assembly (NA) on Wednesday passed two bills to meet the requirements of the Financial Action Task Force (FATF) — a news source reported.
The bills titled ‘The United Nations Security Council (Amendment) Bill, 2020’ and ‘The Anti-Terrorism (Amendment) Bill, 2020’ will allow the federal government to perform executive actions in light of the United Nations Security Council (UNSC)’s resolutions. These may include freezing and seizing assets, and placing travel bans on militants if they are placed on the sanctions list of the United Nations.
Pakistan was placed on the FATF grey list back in June 2018. In order to be taken off the grey list, the international body had tasked Pakistan with a 27-point action plan. However, in case of non-compliance, there was a threat that Pakistan could also be blacklisted by the FATF.
As per the information available, Pakistan is currently compliant with 14 of the 27 points, and has to complete all the legislative requirements by August 15 to meet the remaining requirements. These will then be placed before an FATF plenary meeting in September.
