US to discuss terror funding with Pak on Jan 9
Money-laundering is a punishable offence in Pakistan under the anti-money laundering ordinance promulgated in 2007.
Karachi: A US Treasury delegation will call on senior Pakistani economic managers in Islamabad on January 09 to discuss money-laundering and terror funding issues
Pakistan’s Finance Ministry said the American delegation comprising about four to five officials would hold talks with Prime Minister Yousuf Raza Gilani, Finance Minister Dr Abdul Hafeez Shaikh and State Bank of Pakistan Governor Yaseen Anwar.
The meeting comes amid Pakistan being under fire on the issue of money-laundering and terrorists funding since the 9/11 terror attacks on the US, The Dawn reports.
Money-laundering is a punishable offence in Pakistan under the anti-money laundering ordinance promulgated in 2007, which prescribes a rigorous imprisonment term between one and 10 years and a fine of up to one million rupees and forfeiture of property.
The State Bank of Pakistan has also directed all exchange companies to adhere to the anti-money laundering regime by submitting suspicious transactions directly to the Financial Monitoring Unit.