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October 17, 2019
Latest Pakistan Top Stories

UNSC Freezing and Seizure Order: Govt takes control of banned outfits’ assets

ISLAMABAD: Following the last month’s decision to ban Jamaat-ud-Dawa (JuD) and its charity wing Falah-e-Insaniat Foundation (FIF), the federal government on Monday issued an order to streamline the process for implementation of sanctions against individuals and entities designated by the United Nations Security Council (UNSC)

A statement issued by Foreign Office said that the step was taken in order to implement the UNSC directions. The objective of the UNSC (Freezing and Seizure) Order 2019 is to streamline the procedure for implementation of SC sanctions against designated individuals and entities.

“It may be recalled that the Chapter VII of the United Nations Charter authorizes the United Nations Security Council (UNSC), acting under Article 41, to decide measures, not involving the use of armed force, to give effect to its decisions for the maintenance of international peace and security,” read the statement.

This UNSC Order 2019 has been made keeping in view UNSC and Financial Action Task Force standards.

In February, the FATF had directed Pakistan to take more steps to curb money laundering, according to a statement on the FATF website. “Since June 2018, when Pakistan made a high-level political commitment to work with the FATF and APG (Asia Pacific Group) to strengthen its AML/CFT regime and to address its strategic counter-terrorist financing-related deficiencies, Pakistan has taken steps towards improving its AML/CFT regime, including by operationalising the integrated database for its currency declaration regime,” read the FATF statement.

The Ministry of Finance said in a statement that FATF would review Pakistan’s performance in June 2019.

FATF, a global body that combats terror financing and money laundering, had taken the decision to place Pakistan on its ‘grey list’ during a plenary meeting in February 2018.