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 Perth Herald 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 Perth Herald.
More InformationGENEVA, Switzerland: A new United Nations report alleges that dozens of global corporations are profiting from and helping sustain...
LONDON/STOCKHOLM: The Persson family is ramping up its investment in the H&M fashion empire, fueling renewed speculation about a potential...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
SYDNEY, Australia: Australia will not ease its strict biosecurity rules during trade talks with the United States, Prime Minister Anthony...
BEIJING, July 5 (Xinhua) -- No dull rows of chairs and tables, no endless slides of charts and numbers -- instead, a gleaming statue...
KHARTOUM, July 5 (Xinhua) -- After more than two years of devastating conflict, Sudan's capital Khartoum is slowly emerging from the...
Nearly three months after a devastating earthquake struck Myanmar, the country remains trapped in a deepening crisis, compounded by...
MELBOURNE, Australia: A second embryo mix-up in just two months has pushed one of Australia's largest IVF providers back into the spotlight,...
SYDNEY, Australia: Australia will not ease its strict biosecurity rules during trade talks with the United States, Prime Minister Anthony...
(250705) -- SLIVERSTONE, July 5, 2025 (Xinhua) -- Mercedes' driver George Russell of Britain reacts before Practice 3 of the Formula...
Grenada [West Indies], July 5 (ANI): Australia held a narrow 33-run lead at the end of the first innings after dismissing West Indies...
Chennai (Tamil Nadu) [India], July 5 (ANI): Former Indian cricketer Suresh Raina is set to make his acting debut in a Tamil film under...