ANI
15 Jan 2022, 15:07 GMT+10
Islamabad [Pakistan], January 15 (ANI): The State Bank of Pakistan (SBP) has refused to open the Afghanistan Relief Fund and requested the Imran Khan-led Pakistan Tehreek-e-Insaf (PTI) to review its decision, expressing the fear that the Financial Action Task Force (FATF) might impose sanctions against Islamabad, local media reported on Saturday.
The central bank has returned the federal government's request to open the relief fund with the advice that the decision might be reviewed in light of Pakistan's commitments under international covenants and the FATF action plan, The Express Tribune reported citing government sources as saying.
The federal government had decided to open the bank account to receive cash donations from Pakistan and abroad to help Afghan people meet their immediate humanitarian needs, said the Pakistani publication.
Pakistan has been on the Paris-based FATF's grey list for deficiencies in its counter-terror financing and anti-money laundering regimes since June 2018.
Meanwhile, the FATF plenary is again going to review the country's case next month, as per The Express Tribune.
Last year, on December 8, the Finance Ministry issued instructions to the SBP to "open with immediate effect" the Afghanistan Relief Fund to provide humanitarian assistance to Afghanistan.
The federal government had requested the SBP governor that he should issue necessary instructions to the scheduled banks to open the account. But so far, the account remains non-operational.
At the request of the SBP, the issue of opening the Afghanistan Relief Fund is being examined to ensure that Pakistan fully complied with its international commitments, Finance Secretary Hamid Yaqoob Sheikh the told The Express Tribune.
It further reported that the central bank's observations have raised questions over the authority of the federal government. It may also throw a challenge to the Foreign Office that is trying to secure commitments from the international community to avoid catastrophe in Afghanistan.
The Taliban took over control of Kabul on August 15 and following this the country has been battered by deepening economic, humanitarian and security crisis. (ANI)Get a daily dose of Vietnam Tribune news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Vietnam Tribune.
More InformationIslamabad [Pakistan], July 13 (ANI): Five senior leaders of Pakistan Tehreek-e-Insaf (PTI), who are currently imprisoned in Kot Lakhpat...
Balochistan [Pakistan], July 13 (ANI): A man from Naseerabad district in Balochistan, Azmat Rind, was allegedly tortured to death while...
Rameswaram (Tamil Nadu) [India], July 13 (ANI): Seven Indian fishermen were arrested by the Sri Lankan Navy on Sunday morning for allegedly...
Canberra [Australia], July 13 (ANI): Australia's Minister of Foreign Affairs Penny Wong has announced 34 recipients of this year's...
New Delhi [India], July 13 (ANI): Bharatiya Janata Party (BJP) leader Amit Malviya on Sunday targeted West Bengal Chief Minister Mamata...
By Vishu Adhana Beijing [China], July 13 (ANI) External Affairs Minister S Jaishankar will arrive in Beijing on Sunday evening,...
CONCORD, New Hampshire: A federal judge in New Hampshire issued a crucial ruling on July 10 against President Donald Trump's executive...
DUBAI, U.A.E.: A cargo ship flagged under Liberia, known as the Eternity C, sank in the Red Sea following an attack executed by Yemen's...
WASHINGTON, D.C.: The Trump administration has started sending some weapons to Ukraine again, just a week after the Pentagon told officials...
ECAULT BEACH, France: On clear days, the white cliffs of the United Kingdom, are visible from northern France, where men, women, and...
ATLANTA, Georgia: The United States is facing its worst measles outbreak in more than three decades, with 1,288 confirmed cases so...
In the past month alone, 23 Israeli soldiers have been killed in Gaza—three more than the number of remaining living hostages held...