ISLAMABAD: Pakistan and the United Kingdom launched a new initiative to check money laundering, paving the way for justice to be served and those involved to be held accountable for their actions, Radio Pakistan reported on Monday.
The decision was taken during a visit by British Home Secretary Sajid Javid to Islamabad on Monday where Javid announced the plan in a joint press conference with Law Minister Farogh Nasim and Prime Minister’s Special Assistant on Accountability, Shahzad Akbar.
The idea to track down and retrieve illegally-obtained cash — stashed abroad by influential Pakistani citizens — has become a recurring theme in the new Pakistani administration’s political discourse.
Following a meeting with PM Imran Khan, Javid said both countries had agreed to deal with corruption and make it a priority “as money laundering adversely impacts tax collection and is a barrier to investment”.
He added that it was also necessary to enhance bilateral cooperation, curb the flow of illegal money and check violent extremism, assuring Pakistan of UK’s support in meeting the requirements of the Financial Action Task Force.
While Nasim said no specific individual or extradition case was discussed with Javid, plans are in place to set up a joint fund for the recovery of stolen assets.
Pakistan, UK join hands to curb money laundering
Pakistan, UK join hands to curb money laundering
- Retrieving illegally-obtained assets a recurring theme in new government’s political discourse
- British home secretary assures PM Khan of London’s support in attaining the objectives
