Pakistan Strengthens AML-CFT Framework, Approves Key Regulatory Changes

The National Executive Committee on AML-CFT, led by Finance Minister Muhammad Aurangzeb, approved revisions to Currency Transaction Report (CTR) thresholds and included the Pakistan Maritime Zones Act, 2023, and the Pakistan Virtual Assets Regulatory Authority (PVARA) in the Anti-Money Laundering Act (AMLA) schedules. These changes aim to enhance financial monitoring and oversight, aligning the framework with evolving risks and technologies. The committee stressed timely implementation and improved coordination among institutions. While these steps are positive for Pakistan's financial governance and international standing, their immediate direct impact on gold or USD/PKR rates is expected to be minimal.

بحوالہ / Source: www.brecorder.com