ISLAMABAD – International Monetary Fund (IMF) has raised concerns overmoney laundering in the country.
IMF mission, which is currently in Pakistan for talks over a bailoutpackage for country’s beleaguered economy, has also shown reservations onthe weak banking sector and its regulatory framework which is the leadingcause behind increased cases of money laundering.
The Fund is likely to place 27 action plan of Financial Task Force (FATF)as a benchmark for a possible bailout package for the country’s strugglingeconomy.
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As per sources close to the matter, Asia Pacific Group (APG), a regionalbody of FATF, pointed out 670 loopholes in Pakistan’s actions for combatingmoney laundering and terror financing.
