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Business & Finance

These are the FATF related bills passed in latest Joint Sesssion

  • The three crucial FATF-related bills included the Anti-Money Laundering (Second Amendment) Bill, 2020, the Islamabad Capital Territory Waqf Properties Bill, 2020, and the Anti-Terrorism (Third Amendment) Bill, 2020.
Updated 17 Sep 2020

A joint sitting of the National Assembly and Senate passed eight bills, including three related to the Financial Action Task Force (FATF).

The three crucial FATF-related bills included the Anti-Money Laundering (Second Amendment) Bill, 2020, the Islamabad Capital Territory Waqf Properties Bill, 2020, and the Anti-Terrorism (Third Amendment) Bill, 2020.

Islamabad Capital Territory Waqf Properties Bill, 2020

According to the statement of subjects and reasons, "The Islamabad Capital Territory Waqf Properties Bill, 2020" is aimed at proper management, supervision, and administration of Waqf properties in the territorial limits of the Islamabad Capital Territory.

Anti-Money Laundering (Second Amendment) Bill, 2020

“The Anti-Money Laundering (Second Amendment) Bill, 2020" is aimed at streamlining the existing anti-money laundering law in line with the international standards prescribed by the FATF.

Anti-Terrorism (Third Amendment) Bill, 2020

"The Anti-Terrorism (Third Amendment) Bill, 2020" is aimed at addressing the issue of terror financing, one of the major obstacles, which is not only playing a degrading role against the development of the country but also imbuing such elements with the financial means, which are an ultimate threat to the internal and external peace of the country.

The purpose of the Anti-Terrorism (Third Amendment) Bill is also to enable the law enforcement authorities to take certain encountering techniques with an authoritative support of the courts of law to curb terror financing.