• Login
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion
No Result
View All Result
Times of Pakistan
No Result
View All Result
Home Pakistan

NAB Establishes Anti-money Laundering Cell

ToP by ToP
October 17, 2019
in Pakistan
0
0
SHARES
5
VIEWS
Share on FacebookShare on Twitter

The National Accountability Bureau (NAB) has established an anti-money laundering cell in Islamabad office, a declaration released by the anti-graft watchdog said on Thursday. The newly-established anti-money laundering cell will comprise of five officers which would be headed by Deputy General Operation Zahir Shah. The other members include the anti-corruption watchdog’s director Zafar Iqbal, additional director Mufti Abdul Haq, Jahanzaib and Sohail.

It is said that the specialised monitoring cell will also coordinate the Financial Action Task Force (FATF) secretariat and concerned stakeholders for curbing the financial crimes of illegal transfer of resources. After the establishment of the cell, the authorities will be able to continue the thorough investigation against those elements financing terrorists in the country.

On the other hand, the federal government is efficiently working on measures to root out the financial crimes which caused major damages to the national economy as part of the global efforts to block all loopholes for illegal means of money transfers and terror financing.

Earlier in September last year, the Securities and Exchange Commission of Pakistan (SECP) had issued the Anti-Money Laundering/Countering Financing of Terrorism (AML/CFT) guidelines for non-profit organizations (NPOs). The guidelines have been issued on the basis of the recommendations of the Financial Action Task Force (FATF), keeping in view the evolving threats and challenges faced by NPO sector in the country.

FATF, an inter-governmental body formed to coordinate efforts on AML/CFT, has issued a set of 40 recommendations, which serve as international standards for combating money laundering and terrorist financing. Pakistan is a member of APG, a FATF-styled regional body and is required to adopt FATF standards as per membership obligations and also to comply with the UN resolutions. The SECP is actively pursuing implementation of anti-money laundering and counter-terrorist financing regime in its regulated sectors, including the NPOs.

The guidelines have been issued by the SECP to assist NPOs licensed under section 42 of the Companies Act, 2017, in combating money laundering and terrorist financing. These may also be adopted by other NPOs registered under other laws as best practices on the subject. These guidelines will not only assist in improving Pakistan’s outlook by encouraging increased adherence to the applicable standards and recommendations, but will also complement enhancing the level of understanding about the due diligence required with respect to AML/CFT in the NPO sector.

Previous Post

Kim Aims to Strengthen Merit Position at the Raya Pakistan Open

Next Post

Kim of Korea and Nari of Japan pace setters in Pakistan Open Golf Championship

ToP

ToP

Related Posts

NAB orders sale of Nawaz’s assets
Pakistan

PML-N Describes NAB Legislation as “Detrimental” to Pakistan

by Jameel Ahmad
September 25, 2023
imran riaz khan
Pakistan

Journalist Imran Riaz Khan Safely Returns Home After Four-Month Absence

by Jameel Ahmad
September 25, 2023
IMF
Pakistan

IMF rejects interim govt’s power bill relief plan

by Jameel Ahmad
September 6, 2023
Bilawal Bhutto Zardari
Pakistan

Bilawal Stresses Importance of 90-Day Election Schedule Amid Delimitation Concerns

by Jameel Ahmad
September 6, 2023
Electricity Bills Protests
Pakistan

National Outrage Over Skyrocketing Power Bills Leads to Renewed Government Deliberations

by Jameel Ahmad
August 28, 2023
Imaan Mazari and Ali Wazir
Pakistan

Islamabad ATC Approves Bail for Imaan Mazari and Ali Wazir in Sedition Charges

by Jameel Ahmad
August 28, 2023
Battagram cable car
Pakistan

Army Assists in Cable Car Rescue Effort as Eight People, Including Schoolchildren, Left Stranded in Battagram

by Jameel Ahmad
August 22, 2023
Next Post
Kim of Korea and Nari of Japan pace setters in Pakistan Open Golf Championship

Kim of Korea and Nari of Japan pace setters in Pakistan Open Golf Championship

Popular Stories

  • Top 10 Most Expensive Sunglasses

    Top 10 Most Expensive Sunglasses

    0 shares
    Share 0 Tweet 0
  • Colombia: Farc peace talks in Cuba adjourned for a week

    0 shares
    Share 0 Tweet 0
  • The Los Angeles Alligator Farm in 1920’s

    0 shares
    Share 0 Tweet 0
  • 10 Most Expensive Pets, Unusual Choices

    0 shares
    Share 0 Tweet 0
  • Fourth International PATS Competition Kicks off

    0 shares
    Share 0 Tweet 0
Times of Pakistan

About Times Of Pakistan

kralbetbetturkeyikimislibahis1xbetm.infohipas.infohttps://www.wiibet.com/restbetcdn.com

Other Categories

  • Beautiful Pakistan
  • Fashion News
  • Funny News
  • Viral Videos
  • Weird News

Recent Posts

  • PML-N Describes NAB Legislation as “Detrimental” to Pakistan
  • Journalist Imran Riaz Khan Safely Returns Home After Four-Month Absence
  • IMF rejects interim govt’s power bill relief plan

Times Of Pakistan © 2021. Design & Developed by E2E Solution Providers.

No Result
View All Result
  • Home
  • Pakistan
  • International News
  • Business
  • Sports
  • Entertainment
  • Opinion

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In