CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. US To Help Pakistan Tackle Money Laundering

US To Help Pakistan Tackle Money Laundering

by Mary Swire, Tax-News.com, Hong Kong

13 December 2001


A team of experts from the United States is due to travel to Pakistan in the New Year in an effort to help the country's authorities tackle money laundering and to aid the introduction of new laws designed to halt terrorist financing.

According to reports, the government in Pakistan is being asked to show flexibility over the issue of banking secrecy, and to adopt some form of 'know your customer' policy, and to this end a meeting was held on Monday in the Finance Ministry to discuss the introduction of new anti-money laundering laws.

The meeting was attended by representatives from the Finance Ministry, the State Bank of Pakistan, the Security Exchange Commission of Pakistan, the Income Tax Department, the National Accountability Bureau, and the Federal Investigation Agency. According to sources, the two latter organisations are to play a big role in the fight against money laundering following the introduction of new laws, which it is hoped will come into force shortly.

Although representatives from the banking industry were notably absent from this first meeting, it is expected that the government will introduce reforms carefully and thoughtfully, and with the assistance of the US experts, in order to reassure both banks and their clients.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »