Pakistan will present an implementation report on its action plan to the Financial Action Task Force (FATF) on April 15, the third of four such reports to be presented to the global financial watchdog before its review of Islamabad’s performance in June this year.
The FATF has recommended a 27-point agenda to Pakistan for implementation.
Sources said the finance, interior and foreign ministries, State Bank of Pakistan (SBP), Securities and Exchange Commission of Pakistan (SECP), Federal Investigation Agency (FIA), National Counter-Terrorism Authority (Nacta), Federal Board of Revenue (FBR) and Financial Monitoring Unit (FMU) are working on the FATF action plan.
The government, according to the sources, has also set up four working groups to ensure the implementation of the action plan. The FATF has stressed restrictions on funding of banned organisations.
It has advised the authorities to freeze accounts of the terror outfits and seize their assets. It has also advised implementation of anti-money laundering laws and strict vigilance of the financial institutions as well as measures for public awareness.