*ISLAMABAD: The visit of a delegation of the Financial Action Task Force’s(FATF) Asia Pacific Group (APG) has* demanded from Pakistan to tightenlaws, rules and regulations.
It further asks Pakistan for fixing flaws in the mechanism of runninginstitutions.
The FATF team will present its observational report on Pakistan on November19. In response to which, Pakistan will also submit its own account on thematter after reviewing the report published by FATF delegation.
On October 8, the FATF AGP arrived in Islamabad for the final negotiationswith the authorities in Pakistan. During its 12-day visit, the missionreviewed the administrative and legal measures taken by Pakistan to curbthe financial assistance to terrorists.
The delegation of Financial Action Task Force demanded from the governmentof Pakistan to take a number of steps to ameliorate its position on theglobal forum.
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The international body asked the government to keep a record oftransactions, from 3000-15000 US dollars and euros, taking place in theform of assets, gold and other sectors like metal business and law firms.
The initiative will also be applicable on accountants, trust and serviceproviding companies.
