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ISLAMABAD: The federal government on Thursday passed the National Anti-Money Laundering and Counter Financing of Terrorism Authority Bill, 2023.
The House closed its legislative business by passing eight bills- one private and seven important government bills.
National Assembly passes the Bill to establish the National Anti-Money Laundering and Counter Financing of Terrorism Authority in Pakistan [The National Anti-Money Laundering and Counter Financing of Terrorism Authority Bill, 2023].
Earlier, during the bill’s introduction, Hon.… pic.twitter.com/rl7uY6Ht16
— National Assembly 🇵🇰 (@NAofPakistan) August 3, 2023
The bill, introduced by State Minister for Foreign Affairs Hina Rabbani Khar, proposed a National Anti-Money Laundering and Counter Financing of Terrorism Authority in Pakistan.
Speaking in the house, Hina Rabbani Khar said that it is a very important piece of legislation, which if enforced and implemented in letter and spirit, the country will get rid of the Financial Action Task Force (FATF)’s grey list once for all.
She said that the bill envisages the establishment of a National Anti-Money Laundering and Counter Financing of Terrorism Authority, which is a wonderful initiative, adding the chairman of the authority will be appointed by the prime minister.
Khar said that the authority will comprise of secretaries of finance, foreign affairs, interior, governor State Bank of Pakistan (SBP), chairmen Securities and Exchange Commission of Pakistan (SECP), National Accountability Bureau (NAB), directors-general (DGs) Federal Investigation Agency (FIA), Anti-Narcotics Force (ANF), Federal Board of Revenue (FBR), Financial Monitoring Unit (FMU), national coordinator of National Counter-terrorism Authority (Nacta) and all provincial chief secretaries.
