Pakistan approved key bill linked with the FATF Requirements

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Pakistan approved key bill linked with the FATF Requirements

A joint sitting of parliament on Wednesday approved Bills to meet the FATF’s requirements to remove the country from the Financial Action Task Force’s grey list.

The bills introduced by Babar Awan, Advisor to the Prime Minister on Parliamentary Affairs, include the Capital Islamabad Waqf Property Bill, 2020 and the Anti-Money Laundering Amendment Bill, 2020.

The Capital Islamabad Waqf Property Bill link to monitor the proper management of waqf properties within the territorial limits of Islamabad.

The purpose of the Anti-Money Laundering Amendment Bill 2020 is to bring the existing anti-money laundering law into the national mainstream in accordance with international standards under the Financial Action Task Force.