Senator Ishaq Dar, Federal Minister for Finance, Monday asked for best possible coordination among all the relevant authorities to effectively combat financing of terrorism activities. Dar held a meeting with Ashraf Mehmood Wathra, Governor, State Bank of Pakistan (SBP) at the Governor House. Deputy Governors of SBP Saeed Ahmed, Riaz Riazuddin and other senior SBP officials participated in the meeting.
The performance and achievements of the targets set under the IMF program were discussed in detail in connection with the forthcoming 12th IMF Review meeting.
The Governor SBP briefed the minister about various targets related to the SBP such as Net International Reserves and Net Domestic Assets. Governor SBP also updated the minister on the role of banks in implementation of Anti Money Laundering (AML) laws and reporting mechanism. The role of Financial Monitoring Unit was also discussed. The Finance Minister emphasised that SBP, SECP, and FBR should adhere to internationally recognised monitoring and enforcement standards and practices to apprehend malpractices in the country. He emphasised upon updating laws, if required, to eradicate undesirable practices. He said best possible coordination among all the relevant authorities should be ensured to effectively combat financing of terror activities.
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