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Lower House approves draft anti-money laundering laws

in Afghan Business

Lower House approves draft anti-money laundering laws

afghanistan parliamentThe Afghan Lower House approved the draft laws on Anti-Money Laundering and Financing Terrorism Prevention Laws on Wednesday.

Consisting of 5 chapters and 29 articles, the laws were approved 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.

A member of the International Relations Committee (IRC) of the Lower House, Naheed Farid, said the legislation was for the benefit of the country to help ensure security and assist the law enforcement agencies to prevent sponsorship of terrorist network through black money.



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