Finance Minister meets NEC to discuss and review progress in implementation of FATF Action Plan

Finance Minister Asad Umar chaired a meeting of National Executive Committee (NEC).

The NEC is high level body established to oversee both policy and implementation matters of the Anti-Money Laundering and Counter Financing of Terrorism regime.

The purpose of the meeting was to discuss and review progress in AML/CFT areas of the relevant stakeholders especially implementation status of FATF Action Plan.

Different stakeholders presented progress in their respective areas on Action Plan and other AML/CFT areas. During discussion, the Finance Minister emphasized to put more efforts to meet the compliance of AML/CFT regime with international standards.

The Finance Minister was of the view that the Action Plan may be seen as an opportunity rather than a challenge and this Action Plan will set directions for a robust AML/CFT regime in Pakistan as per international standards. The Minister emphasized the need to work hard and achieve the desired action well before the agreed time lines as it is in the interest of the country