FM Asad Umar strengthens disciplinarians to curb illegal foreign transactions

MG News | October 02, 2018 at 10:40 AM GMT+05:00

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October 2, 2018 (MLN): A high level meeting chaired by Finance Minister Asad Umar on Monday, has finalized proposed amendments/insertions in relevant laws for strengthening punitive regime to prevent Hundi, Hawala and other illegal foreign exchange transactions.

The meeting after thorough discussion endorsed the amendments in the relevant laws. Recommendations in this regard would be submitted to the Prime Minister shortly, as per an official press release issued.

As per the report, the Finance Minister on the occasion strongly reiterated government’s resolve for an effective campaign against money laundering and transfer of money through non-banking channels.

He said the amendments would strengthen the institutional framework to augment the capabilities of various state agencies in dealing with the issues of illegal money transactions.

The meeting was attended by Attorney General of Pakistan, Secretary Finance, Secretary Ministry of Law and Justice, Secretary Commerce, Acting Secretary Foreign Affairs, Governor State Bank of Pakistan, Special Secretary Interior, Special Secretary Finance and senior officials of FBR, FMU, FIA and NAB.

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