ISLAMABAD – Securities and Exchange Commission of Pakistan has issued theAnti-Money Laundering and Countering Financing of Terrorism guidelines forNon-Profitable Organizations on the basis of recommendations of theFinancial Action Task Force.
The guidelines contain an elaborate explanation of the terrorist financingprocess, risk factors for NPOs, fundamental principles of good practice,and measures to enhance good governance and ensure transparency andfinancial accountability.
These guidelines will not only assist in improving Pakistan’s outlook byencouraging increased adherence to the applicable standards andrecommendations, but will also complement enhancing the level ofunderstanding about the due diligence required.
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Pakistan is a member of The Asia Pacific Group (APG) on Money Launderingand is required to adopt FATF standards as per membership obligations.
