Govt to track down FATF’s requirements on biweekly basis

ISLAMABAD: The government on Saturday decided to track down all requirements of Financial Action Task Force (FATF) on fortnightly basis.

Finance Minister Asad Umar chaired a meeting here Saturday to review progress on FATF action plan and APG assessment.

Director General Financial Monitoring Unit (FMU) briefed the minister about the actions taken so far on both FATF action plan and APG assessment.

The minister emphasised the need to enhance level of institutional coordination to ensure timely accomplishment of FATF action plan. He also desired appropriate and complete responses to APG's follow-up queries.

Further it was agreed to develop an effective monitoring mechanism to ensure that all concerned stakeholders complete the assigned tasks within delegated timelines.

The minister directed that all stakeholders may be advised to develop internal actions plans which shall be monitored on a fortnightly basis.

Senior officials of the Ministry of Finance and other relevant stakeholders attended the meeting.