ISLAMABAD – The finance ministry on Monday proposed several amendments inrelevant laws to prevent hundi, hawala and other illegal modes oftransactions.
A meeting in this regard took place in Islamabad with Finance Minister AsadUmar in the chair, said a statement issued by the Press InformationDepartment.
“The amendments cover existing FIA Act 1974, Foreign Exchange RegulationAct 1947(FERA), Customs Act 1969 and AML Act 2010. The meeting afterthorough discussion endorsed the amendments in the relevant laws,” it added.
Asad Umar on the occasion said the Pakistan Tehreek-e-Insaf (PTI)government was committed to eliminate money laundering and transfer ofmoney through non-banking channels.
Read Top Stories
“The amendments would strengthen the institutional framework to augment thecapabilities of various state agencies in dealing with the issues ofillegal money transactions,” he added.
