Islamabad
The Commissioner, Securities and Exchange Commission of Pakistan (SECP), Farrukh Sabzwari chaired the AML/CFT Compliance Forum organized to deliberate on progress on FATF Action Plan, dficiencies identified in Pakistan FATF/APG mutual evaluation, supervisory findings and issues in implementation of AML/CFT regulations.
Chief Executive Officers of SECP regulated financial institutions inter-alia the brokers, insurance companies and the NBFCs attended the session.
This initiative was part of the overall SECP AML/CFT capacity building program to enhance the understanding of AML/CTF obligations and elevate the AML/CFT compliance, aiming to sensitize the top decision makers in the industry on the AML/CFT obligations. Over 45 Chief Executive Officers from Securities and Commodities markets, Insurance/Takaful companies, Non-Banking Finance Companies and Modaraba sector participated in the Compliance Forum.
Commissioner Sabzwari stated that Pakistan has demonstrated significant progress towards fulfilling FATF obligations under the Action Plan. Nonetheless, it must continue its efforts in combating money laundering and terror financing by accomplishing the remaining actionable items under ICRG -Action Plan and.
