Pakistan parliament to discuss Financial Action Task Force related bills

The Pakistan government has summoned a joint session of Parliament on Thursday to discuss the Financial Action Task Force (FATF)-related bills, which were passed in the National Assembly on Wednesday. Sources said that as per the government's strategy, the FATF-related bills would be approved by the joint session if the Senate disapproves it, reports The Express Tribune. The upper house is scheduled to meet on Thursday morning. Both the bills aim at fulfilling various requirements of the FATF – an inter-governmental organization that sets global policies against money laundering and terror financing. Pakistan, which was placed on the FATF grey list in June 2018, is supposed to fulfil the body's 27-point action plan in order to come out of its grey list and to avoid its blacklist of non-compliant countries. The proposed legislations seek to empower the federal government to direct authorities to implement various measures in the light of the UN Security Council (UNSC) resolutions. (IANS)

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