Pakistan, UAE anti-money laundering MoU to assist meet FATF circumstances

  • The Monetary Intelligence Unit (FIU) of the UAE signed a Memorandum of Understanding (MoU) with the Monetary Monitoring Unit of Pakistan.

Ali Ahmed 11 Sep 2020

Pakistan’s envoy within the United Arab Emirates Ghulam Dastagir has stated that the lately signed Memorandum of Understanding (MoU) between the 2 international locations to curb cash laundering and terror financing would assist Pakistan meet the Monetary Motion Job Power (FATF) circumstances.

“By means of this MoU, each international locations at the moment are certain by parameters and establishments to share data with every which was not being completed formally earlier. This settlement additionally meets the requirement Pakistan wants to meet as regards to the FATF,” Dastgir stated, quoted Arab Information.

The Monetary Intelligence Unit (FIU) of the UAE signed a Memorandum of Understanding (MoU) with the Monetary Monitoring Unit of Pakistan.

The MoU signed by H.E. Ghulam Dastgir, Ambassador of Pakistan to UAE, and Ali Faisal Ba’Alawi, Appearing Head of the Monetary Intelligence Unit of UAE, comes consistent with worldwide efforts to alternate monetary data and experience, in addition to collaborate with related authorities and stakeholders to fight monetary crimes, knowledgeable the Central Financial institution of the UAE in a press release.

It’s pertinent to tell that the worldwide anti-money laundering watchdog FATF has stored Pakistan on its ‘gray checklist’ and has given Pakistan time to satisfy the remaining 13 out of a complete of 27 actions to deal with ‘strategic deficiencies’ regarding counter cash laundering, terrorist financing and proliferation financing.

The Paris primarily based intergovernmental positioned Pakistan on the gray checklist in June 2018 and was given a plan of motion to finish it by October 2019.

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