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 Zimbabwe Star 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 Zimbabwe Star.
More InformationMADRID, Spain: Liverpool footballer Diogo Jota and his younger brother, André Silva, have died in a car accident in Spain. Spanish...
LONDON, U.K.: An unrelenting heatwave sweeping across Europe has pushed early summer temperatures to historic highs, triggering deadly...
President Donald Trump's plans to build a space-based Golden Dome missile defense shield have drawn immediate criticism from China,...
NEW YORK CITY, New York: Paramount has agreed to pay US$16 million to settle a lawsuit brought by U.S. President Donald Trump over...
LONDON, U.K.: British Prime Minister Keir Starmer won a vote in Parliament this week to move ahead with changes to the country's welfare...
WASHINGTON, D.C.: President Donald Trump will meet Israeli Prime Minister Benjamin Netanyahu at the White House on Monday. President...
Abu Dhabi [UAE], July 5 (ANI/WAM): President Sheikh Mohamed bin Zayed Al Nahyan has sent a message of congratulations to President...
Birmingham [UK], July 5 (ANI): KL Rahul continued his fine overseas run in Test cricket, becoming only the second Indian opener after...
* China's first LEGOLAND resort opened on Saturday in Shanghai. * Spanning 318,000 square meters, LEGOLAND Shanghai Resort is the...
Worcester [UK], July 5 (ANI): India's 14-year-old batting sensation Vaibhav Suryavanshi cracked the fastest century in the U19 ODI...
Thiruvananthapuram (Kerala) [India], July 5 (ANI): Indian wicketkeeper-batter Sanju Samson made a record-breaking return to the Kerala...
* In recent years, BRICS has transformed into a major force fostering cooperation among Global South nations. This collaboration not...