They discussed their experience with virtual assets & virtual asset service providers, given focus area of both sides to promote responsible innovation while mitigating finance risks.
Islamabad has shown ‘political commitment’ in combating terrorist financing, says Paris-based Financial Action Task Force. Pakistan was in ‘grey list’ since June 2018.
Financial Action Task Force chief says Pakistan has met all requirements to exit grey list, but terror financing watchdog will assess if it can ‘sustain’ reforms by holding on-site visit.
Malik had been charged under the UAPA for committing a terrorist act, raising funds for terrorism, being a member of a terrorist group and part of a criminal conspiracy, and sedition.
The Paris-based Financial Action Task Force (FATF) has now given Pakistan time until October to fulfil the previously set requirements along with the new action plan.
Action against Masood Azhar and Hafiz Saeed are among the 6 obligations set by FATF that Pakistan has failed to fulfil. Its performance will be reviewed at an FATF meet next week.
India is likely to go through its FATF country assessment early next year. Some issues could prove a sticking point, including demonetisation and crackdown on shell firms.
Pakistan has to work on FATF’s 27-point action plan to come out of the ‘grey list’, but India believes it is still financing terror amid the Covid-19 pandemic.
In India, only 17% of public sector banks and 25% of private sector banks claimed to have an internal strategy for integrating climate risks into their risk management framework.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
Both the governments expressed their commitment to strengthening their maritime cooperation to strengthen the maritime safety and security framework in the region.
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