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Asad Umar directs SECP, SBP to complete FATF Action Plan work

Asad Umar directs SECP, SBP to complete FATF Action Plan work

ISLAMABAD: Finance Minister Asad Umar on Wednesday chaired meetings with SECP and SBP to review progress made by the regulators on FATF Action Plan.

The meeting was attended by executive directors from SBP and SECP, DG-FMU, Legal Adviser-FMU and other senior officials.

During the meeting, SBP and SECP gave a detailed presentation on the progress on actions taken by them for implementation of FATF Action Plan. The finance minister directed that the internal action plans with specific timelines on implementation of FATF Action Plan should be put in place immediately and shared with FMU so that all FATF Action Plan items are completed within the agreed time lines.

The minister also asked them to not only complete actions due in January 2019 but also focus on actions due in May and September 2019 as they would be required to update FATF on work being done to meet those timelines.

Asad Umar over the last three days held series of meetings with different stakeholders reviewing progress in regard to work undertaken by them on FATF action plan.