Finance Minister Asad Umar chaired a meeting of the National Executive Committee in Islamabad to review the progress on Action Plan of the Financial Action Task Force (FATF).

During the meeting, National Counter Terrorism Authority made a detailed presentation on the Terrorist Financing Risk Assessment, which was prepared jointly by NACTA and FIA in consultation with a number of relevant authorities.

After detailed deliberations on various aspects of the assessment report, the NEC approved the report to address certain observations in respect to the key policy and legislative areas.

The NEC also approved the Risk Assessment Report on cash smuggling prepared by FBR and Customs.

Financial Monitoring Unit presented the analysis on suspicious transaction reports filed by the financial sector in the last three years and the law enforcement actions taken against money laundering and terrorism financing on the basis of such reports.