Pakistan’s National Assembly passes bill to curb money laundering and terror financing; end FATF threat forever

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Islamabad, Aug 4 (PTI) Pakistan’s National Assembly has passed a bill, which will help the country avoid the Financial Action Task Force’s grey list forever if it is enforced and properly implemented.

The lower house of Parliament passed the bill on Thursday that seeks to form a central authority to curb money laundering and terror financing, bringing all institutions related to the Financial Action Task Force (FATF) under one command.

Last year, Pakistan was taken off the grey list of the Financial Action Task Force (FATF), the global watchdog on terror financing and money laundering, four years after the country was put in the infamous categorisation.