ISLAMABAD: Saudi Arabia’s cabinet, chaired by Crown Prince Mohammed bin Salman, has approved a memorandum of understanding (MoU) with Pakistan’s Financial Monitoring Unit (FMU) to enhance cooperation in combating money laundering, terrorist financing and related crimes, the Saudi Press Agency reported this week.
Pakistan has faced significant challenges with money laundering and terrorist financing in recent years, leading to its placement on the Financial Action Task Force’s (FATF) grey list in June 2018.
After implementing comprehensive reforms to strengthen its financial system, the country was removed from the grey list in October 2022.
The FMU, established under the Anti-Money Laundering Act of 2010, serves as Pakistan’s financial intelligence unit, responsible for analyzing suspicious transaction reports and coordinating with international counterparts.
“[The cabinet approved] a memorandum of understanding between the General Department of Financial Investigation at the Presidency of State Security in the Kingdom of Saudi Arabia and the Financial Monitoring Unit in the Islamic Republic of Pakistan regarding cooperation in exchanging investigations related to money laundering, terrorist financing, and related crimes,” the SPA reported.
The MoU signifies the deepening strategic relations between Saudi Arabia and Pakistan. A significant Pakistani diaspora resides in the Kingdom, and numerous Pakistani businesses have established a presence there.
Saudi Arabia has been a key supporter of Pakistan’s economy, bolstering its reserves with substantial deposits in the State Bank of Pakistan and offering deferred oil payment facilities.
The Saudi cabinet also highlighted the Kingdom’s hosting of the INTERPOL Regional Bureau as a significant step, saying it underscored international recognition of the Kingdom’s pivotal role in combating extremism and other crime in their different forms.
Saudi cabinet approves memorandum of understanding with Pakistan to combat financial crimes
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Saudi cabinet approves memorandum of understanding with Pakistan to combat financial crimes
- The development signifies deepening strategic relations between the Kingdom and the South Asian state
- MoU was signed between Pakistan’s Financial Monitoring Unit and Saudi Department of Financial Investigation
Pakistan opposition rallies in Khyber Pakhtunkhwa to demand release of Imran Khan
- PTI-led gathering calls the former PM a national hero and demands the release of all political prisoners
- Government says the opposition failed to draw a large crowd and accuses PTI of damaging its own politics
ISLAMABAD: Pakistan’s opposition led by the Pakistan Tehreek-e-Insaf (PTI) party demanded the release of jailed former prime minister Imran Khan at a rally in the northwestern Khyber Pakhtunkhwa province on Sunday, describing him as a national hero who continues to command public support.
The gathering came days after a rare and strongly worded briefing by the military’s media chief, Lt. Gen. Ahmed Sharif Chaudhry, who dismissed Khan as “narcissistic” and “mentally ill” on Friday while responding to the former premier’s allegations that Pakistan’s chief of defense forces was responsible for undermining the constitution and rule of law.
He said that Khan was promoting an anti-state narrative which had become a national security threat.
The participants of the rally called for “civilian supremacy” and said elected representatives should be treated with respect.
“We, the people of Pakistan, regard Imran Khan as a national hero and the country’s genuinely elected prime minister, chosen by the public in the February 8, 2024 vote,” said a resolution presented at the rally in Peshawar. “We categorically reject and strongly condemn the notion that he or his colleagues pose any kind of threat to national security.”
“We demand immediate justice for Imran Khan, Bushra Bibi and all political prisoners, and call for their prompt release,” it added, referring to Khan’s wife who is also in prison. “No restrictions should be placed on Imran Khan’s meetings with his family, lawyers or political associates.”
Addressing the gathering, Sohail Afridi, the chief minister of Khyber Pakhtunkhwa, denied his administration was not serious about security issues amid increased militant activity. However, he maintained the people of his province had endured the worst of Pakistan’s conflict with militancy and urged a rethinking of long-running security policies.
The resolution asked the federal government to restore bilateral trade and diplomatic channels with Afghanistan, saying improved cross-border ties were essential for the economic stability of the region.
The trade between the two neighbors has suffered as Pakistan accuses the Taliban administration in Kabul of sheltering and facilitating armed groups that it says launch cross-border attacks to target its civilians and security forces. Afghan officials deny the claim.
The two countries have also had deadly border clashes in recent months that have killed dozens of people on both sides.
Some participants of the rally emphasized the restoration of democratic freedoms, judicial independence and space for political reconciliation, calling them necessary to stabilize the country after years of political confrontation.
Reacting to the opposition rally, Information Minister Attaullah Tarrar said the PTI and its allies could not gather enough people.
“In trying to build an anti-army narrative, they have ruined their own politics,” he said, adding that the rally’s reaction to the military’s media chief’s statement reflected “how deeply it had stung.”
“There was neither any argument nor any real response,” he added, referring to what was said by the participants of the rally.
