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Price bonds are considered as the gold investment and it is a bearer type of investment security, and is basically a lottery bond offered by the National Savings Pakistan (Ministry of Finance) and issued on behalf of the government.As per details, the State Bank of Pakistan (SBP), Federal Board of Revenue (FBR), Securities and Exchange Commission of Pakistan (SECP), Federal Investigation Agency (FIA) and National Counter Terrorism Authority (NACTA) would collect records, including of telecom banking, in this regard. SBP's monitoring unit would provide the data of prize bond owners.Sources told 'Dunya News' that access of terrorists to prize bonds and transfer of money through telecom banking has been hampered.Sources also said all welfare organizations would be monitored at the federal and provincial levels by SECP and complete record of welfare organizations would be sought.Business of gold, other jewelry and precious stones would be registered and use of ID card would be mandatory for such business.Minister for Economic Affairs Division Hammad Azhar said that it was unlikely Pakistan would be placed on the blacklist of the Financial Action Task Force (FATF).Talking to media in Islamabad on Friday, he said all Indian plots to blacklist Pakistan have failed terribly, adding that FATF's Asia Pacific Group appreciates Pakistani efforts to counter terrorism.Hammad Azhar said that Pakistan is working fast on FATF targets, adding that this was also acknowledged at a recent meeting of the Asia-Pacific Group.The minister went on to say that despite negative Indian propaganda, Pakistan will succeed.On Aug 23, in a blow to Pakistan, the Asia-Pacific Group, a regional affiliate of the Financial Action Task Force (FATF), has placed Pakistan in the Enhanced Expedited Follow Up List (Blacklist) for its failure to meet its standards.In its meeting in Canberra, the APG found that Pakistan was non-compliant on 32 of the 40 compliance parameters of terror financing and money laundering, officials said.The FATF APG discussions lasted over seven hours over two days.On 11 effectiveness parameters Pakistan was adjudged as low on 10.The Asia-Pacific Group was conducting its five-year evaluation of Pakistan's progress on upgrading its systems in all areas of financial and insurance services and sectors.These areas cover safeguards against money laundering and terror financing by banned outfits and non-government entities through banking and non-banking jurisdictions, capital markets, corporate and non-corporate sectors like chartered accountancy, financial advisory services, cost and management accountancy firm, jewellers and similar related services.The APG's assessment report can indirectly impact Pakistan's position to move out of the grey list.( With inputs from IANS )

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Hammad azhar, Latest News

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