Finance Minister, Senator Mohammad Ishaq Dar here on Wednesday chaired meeting of the Sub-Committee on Choking Financing for Terrorists and Terrorist Organizations constituted under Prime Minister’s Implementation Committee for National Plan of Action on Counter Terrorism.
Representatives of different Ministries/ Divisions and Departments provided updates on implementation status of the decisions taken during the last meeting of the sub-committee.
The meeting was informed in detail about the proscription process of UNSC-designated (Pakistani based) entities under the ATA-1997. It was informed that under SBP guidance banks are barred to render banking services to proscribed entities/individuals. Further, continuous monitoring and surveillance of the proscribed organizations and individuals is being carried out.
Regarding launching of broad-based national programme on capacity building of Law Enforcement Agencies and prosecutors in the subject of Terrorist Financing in all the provinces and police academies, the meeting was informed that Finance Division / Financial Monitoring Unit after consultation with stakeholders assessed the needs for Law Enforcement Agencies at Federal and Provincial level on AML/CFT. The training needs were shared with Donors and Providers (DAP) and with their cooperation a number of capacity building programs have been conducted on AML/CFT.
On the efforts to eradicate the menace of hundi and havala, the meeting was apprised that between January and October 2015, the Financial Monitoring Unit of the Finance Division has referred 49 reports having link with Hawala, to FIA for inquiry. SBP is also referring cases of illegal money remitters to FIA. On the basis of these referrals, FIA has registered a number of cases and conducted effective investigations.
The Finance Minister appreciated the efforts of all the relevant departments and agencies involved in countering money laundering/terrorist financing. He said a consolidated report on actions taken by Government of Pakistan to counter money laundering and terrorist financing should be shared with the international community at the FATF forum, which was likely to meet in France in February 2016. Pakistan’s efforts in the spheres of countering terrorist financing should be strongly projected at the conference, the Minister added.
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