Rules finalized for freezing, seizure of proscribed organizations assets



The authorities concerned have finalized rules regarding freezing and seizure of assets of proscribed organizations and persons on Schedule-IV of Anti- Terrorism Act (ATA), 1997 and these are with Law & Justice Division for vetting.
The government had constituted a Prime Minister’s Sub- Committee on Choking Financing for Terrorists and Terrorist Organizations under National Action Plan (NAP). Numerous actions have been taken by Federal, Provincial Governments and State Bank of Pakistan (SBP) under recommendations of this committee.
Highlighting the steps taken by government under NAP for obstructing financing for terrorist organizations in the country so far, sources at Interior and Narcotics Control Division on Sunday said under ATA 1997, designated/proscribed entities and individuals are prohibited from opening of bank accounts and/or availing any facility from financial institutions in Pakistan.
Accordingly, the sources said banks have reported freezing of 4461 bank accounts, amounting to around Rs. 400 million, pertaining to persons on 4th Schedule of ATA, 1997.
The other step was strengthening of implementation of ATA provisions relating to Terror Financing (TF) through capacity building, enforcement actions and frequent use of proscription of terrorist organizations.
Financial Monitoring Unit (FMU) is arranging capacity building programmes in coordination with national and international stakeholders. The programmes are meant to train Law Enforcement Agencies (LEAs), regulators, federal and provincial police for investigating the TF cases.
The sources said SBP has also arranged capacity building programme for LEAs in Khyber Pakhtunkhwa (KPK) and Quetta on matters related to foreign exchange, Anti Money Laundering (AML), banking policies & inspections in which 65 officers from various LEAs have participated.—APP