MoU signed on anti-terror financing coordination


ISLAMABAD: In a significant move towards effectively checking terror financing, the National Counter Terrorism Authority (Nacta) has organised the signing of a multilateral memorandum of understanding (MoU) among over a dozen relevant institutions and departments.

Those who signed the multilateral MoU included the National Accountability Bureau, Federal Investigation Agency, Federal Board of Revenue, Financial Monitoring Unit (FMU) of the State Bank of Pakistan, Anti-Narcotics Force, intelligence agencies and the provincial counter terrorism departments.

The signing ceremony of the MoU was chaired by Khaliq Dad Lak, national coordinator of Nacta, during the 14th meeting of the National Task Force on Combating Financial Terrorism (CFT) at Nacta headquarters in Islamabad.

The main objectives of the MoU are to enhance inter-agency cooperation, coordination and exchange of information to facilitate timely and effective detection, analysis and probe of cases, transactions and activities relating to money laundering, terrorism financing and predicate offences. The MoU will facilitate the sharing of financial intelligence amongst the FMU, law enforcement agencies (LEAs) and intelligence agencies.

Speaking on the occasion, Mr Lak urged the LEAs to investigate all predicate crimes from terror financing perspective and seek guidance from standard operating procedures (SOPs) issued by Nacta and internally develop their own SOPs to mitigate the risk of terror financing.

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