Pakistan Parliament to discuss Bills related to FATF

The Government of Pakistan convened a joint session of the Parliament on Thursday to discuss the bills related to the Financial Action Task Force (FATF) adopted by the National Assembly on Wednesday. Sources said that, as per the Government’s strategy, the FATF-related bills would be approved by the Joint Session, if the Senate disapproves of them, reports The Express Tribune.
The upper house is scheduled to meet in the morning of Thursday at 11am. Both bills aim to meet the various requirements of the FATF-an inter-governmental organization that sets out global policies to combat money laundering and terrorist financing.
The Anti-terrorism (Amendment) Bill, 2020 and The United Nations (Security Council) (Amendment) Bill, 2020 sailed through the National Assembly to help fulfil international obligations against terror financing.
It majorly focuses at empowering the federal government to direct authorities in Pakistan to implement various measures, in the Security Council resolutions including the freezing and seizure of assets, travel ban and arms embargo on the entities and individuals, who are designated on the sanctions list of the United Nations.
Pakistan, which was placed on the FATF grey list in June 2018, is supposed to fulfil the body’s 27-point action plan in order to come out of its grey list and to avoid its blacklist of non-compliant countries.
The proposed legislations seek to empower the federal government to direct authorities to implement various measures in the light of the UN Security Council (UNSC) resolutions.

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