Money laundering threatens Pakistan’s global standing

August 7, 2025 (MLN): Failure to crack down on money laundering could cripple Pakistan’s economy and tarnish its global standing, the Federal Minister for Law and Justice has warned.

Stressing the need for unwavering institutional commitment, he urged relevant bodies to act with integrity and renewed dedication to restore public trust in law enforcement.

He also lauded the efforts of law enforcement agencies, particularly the National Accountability Bureau (NAB), for their role in combating financial crimes.

The remarks came during a high-level seminar on “Anti-Money Laundering: Challenges and Responsibilities” organized by NAB in collaboration with Adam Smith International and the British High Commission.

The event brought together senior leadership from Pakistan’s top investigative and enforcement agencies, aiming to forge a coordinated approach to counter financial crimes, particularly money laundering.

The seminar took place in Islamabad with Senator Tarar as the chief guest and participation from NAB’s seven regional offices online. The Minister called it a milestone event and emphasized that addressing financial crimes effectively requires joint efforts and cooperation among all stakeholders.

Key attendees included NAB Chairman Lt. Gen (Retd) Nazir Ahmad, NAB Deputy Chairman Sohail Nasir, FIA Director Sameera Azam, FBR DG Aqeel Ahmed Siddiqui, ANF Director Israr Ahmad, CTD Additional IG Waseem Ahmad Khan, FMU DG Muhammad Javed Ismail, AML/CFT Chairman Mushtaq Ahmed Sukhira, and DIG Umar Riaz Cheema.

The panelists shared insights on their respective agency efforts, challenges, and successes in tackling money laundering and illicit financial flows.

NAB Chairman Nazir Ahmad highlighted that this seminar marked the beginning of a joint effort to curb money laundering, stressing the need for sustained inter-agency collaboration. “Fighting financial crime cannot be the responsibility of one agency alone,” he said. “Only through shared experience, mutual support, and regular coordination can we strengthen our national capacity to address these threats.”

Echoing this sentiment, NAB Deputy Chairman Sohail Nasir noted the value of institutional collaboration not only for operational improvements but also for identifying systemic weaknesses and areas for reform.

Participants reaffirmed their commitment to leveraging institutional strengths and legal frameworks to combat financial crime and protect Pakistan’s economic integrity.

The seminar concluded with a strong consensus: sustained, collective, and transparent efforts are essential if Pakistan is to improve its global standing, meet its international obligations, and ensure that financial crime does not undermine its national interests.

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