Pakistan, UK sign declaration to curb money laundering

By Islamuddin Sajid

ISLAMABAD, Pakistan

Pakistan and the U.K. on Monday have signed a justice and accountability declaration to curb money laundering.

The declaration was signed by Pakistani Justice Minister Farogh Naseem and British Home Secretary Sajid Javid in Islamabad.

Addressing a joint news conference, Naseem said the agreement had a broad scope and was not aimed at an individual.

He was referring to the former finance minister, Ishaq Dar, currently living in London, who is the subject of an ongoing corruption case.

Local English daily Dawn quoted the special assistant to the prime minister on accountability Shahzad Akbar who said the agreement would pave way to bring back looted wealth.

The U.K. home secretary also assured the Pakistani authorities that his government would help Islamabad to get out of Financial Action Task Force (FATF) gray list.

In June, the Pakistani foreign office confirmed that the country was on gray list of the international terrorism financing watchdog, following its failure to curb terror financing on its soil.

The 37-nation watchdog had placed Pakistan on a watchlist after Turkey, China, and Saudi Arabia opposed the U.S.-led resolution against Islamabad in February this year.