Islamabad: The government has introduced significant changes in anti-money laundering laws in view of the complaints of the business community. The FIA (Federal Investigation Agency) and the Anti-Money Laundering Authority have jointly issued new rules to restore the confidence of the business community and strengthen Pakistan’s reputation globally.
According to official sources, these amendments have been made in accordance with the requirements of the Financial Action Task Force (FATF). Under these changes, it has now been made mandatory to obtain approval from the concerned Circle Registrar before issuing a notice to a businessperson.
According to the new rules, if a notice is issued to a person, this notice cannot be withdrawn without a thorough investigation.
The business community has welcomed the amendments, saying that this move will reduce retaliation, undue harassment, and unnecessary legal hurdles and improve the investment climate.
