Abb Takk News

NAB Sets Up Special Cell to Combat Money Laundering, Terror Financing

ISLAMABAD: The National Accountability Bureau has established anti-money laundering (AML) and combating the financing of terrorism (CFT) cell on Thursday in a bid to comply with the Financial Action Task Force (FATF) recommendations.

According to a NAB press release, the cell will be headed by DG Operations Zahir Shah and comprise Director Monitoring Zafar Iqbal, Additional Director Mufti Abdul Haq, banking experts Jahanzeb Fareed and Sohail Ahmad, and senior legal consultant Nasir Mehmood Mughal.

The cell has been tasked to coordinate with the National Financial Action Task Force (FATF) Coordination Committee. Director-General of Military Operations was given the overall responsibility for the implementation of FATF recommendations while Federal Minister for Economic Affairs Hammad Azhar is responsible for coordination from the civilian side.