ISLAMABAD: The government has introduced a law against terrorist financiers in the light of FATF guidelines.
According to details, efforts are being made by the federal government to remove Pakistan from the grey list for which the government has introduced amendments in the Anti-Terrorism Act and Penal Code of Pakistan.
The government has introduced rules for terrorist financing in light of FATF guidelines.
Under the amendment to the Anti-Terrorism Act and the Penal Code of Pakistan, arms licenses of persons included in Schedule IV will be revoked and no person or entity will lend to persons included in Schedule IV.
Under the new amendment, a person who lends money to a suspected terrorist will be fined Rs. 25 million and a person who lends money to a suspected terrorist will be fined Rs. 50 million, while aiding and abetting someone will be sent abroad for terrorism. But there will also be fines.
Sources said that after the amendment in the Anti-Terrorism Act and the Penal Code of Pakistan, the movable and immovable property of the banned organization or its representative will be frozen and if the property is not verified, the property will be foreclosed outside the jurisdiction of the court.
Gazette notification of frozen assets will also be issued under the amendment and amendments to the Anti-Terrorism Act will be passed by the Senate.