English | دری

Afghan Parliament passes anti-money laundering laws

in Afghan Business

Afghan Parliament passes anti-money laundering laws

afghan parliamentAfghan Lower House approved the much-awaited anti-money laundering laws on Monday.

Consisting of 5 chapters and 29 articles, the laws are passed by the Parliament after the Financial Action Task Force (FATF) warned of blacklisting Afghanistan for failing to take measures against money laundering.

In accordance with the law, Afghanistan’s National Security Council and the UN Security Council will impose sanctions against those individuals and freeze the banks that finance terrorism networks.

This comes only a few days before FATF announces its decision on blacklisting Afghanistan for failing to combat money laundering.

According to experts, it would take 5 years or longer to get Afghanistan’s name off the blacklist.

Related Articles

5 Best Times to Start a Company

Entrepreneurs come in all sizes, shapes, ages and colors. Great businesses have been created in times of prosperity. Great businesses

Saffron production up by 17% in Afghanistan

Saffron production in Afghanistan has increased by 17%, according to Afghan Ministry of Agriculture, Irrigation and Livestock (MAIL). Afghanistan has

Afghanistan’s 3rd Social Media Summit kicks off in Kabul

The Afghan Social Media Summit 2015 (ASMS2015), which is the third summit on social media, is being held in Kabul’s

No comments

Write a comment
No Comments Yet! You can be first to comment this post!

Write a Comment

Your e-mail address will not be published.
Required fields are marked*