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International Anti-Money Laundering Regime and its Impacts on the Financial Sector of Pakistan

Thesis Info

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Author

Shah, Syed Azhar Hussain

Program

PhD

Institute

National Defence University

City

Islamabad

Province

Islamabad

Country

Pakistan

Thesis Completing Year

2012

Thesis Completion Status

Completed

Subject

Political science

Language

English

Link

http://prr.hec.gov.pk/jspui/bitstream/123456789/2658/1/2666S.pdf

Added

2021-02-17 19:49:13

Modified

2024-03-24 20:25:49

ARI ID

1676724811682

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Money laundering emerged as a global crime. It has the ability to ruin not only the economies, financial institutions but has the power to destabilize political governments and ignite terrorist activities. Decades ago Money laundering was no where on the scene but it doesn’t mean that it wasn’t there. On account of globalization, integration of financial markets and incident of 9/11 the dynamics and implications of money laundering caught the attention of international Regulators. The purpose of this dissertation is to identify various Anti-money laundering regimes, their policies, significance and impact of these regimes for Pakistan and its financial sector. To counter this global menace, active approach at international level was required besides well- coordinated measures at national level. This dissertation discusses various international regimes like UNO, IMF, WB, Wolfsburg, IOSCO, IAIS and FATF etc. that have come up with techniques to check and control this global crime on one hand and also provide technical and financial assistance to member countries for collaborative efforts to curb money laundering activities that has no national boundaries. Being strategically located Pakistan is also one of the victims of money laundering and terrorist activities therefore; compliance to International standards has not only international but also national significance. Pakistan has taken legislative, legal, administrative and regulatory measures to comply with international standards. The significance of international anti-money laundering regimes for Pakistan cannot be ignored as adhering to their guidelines has enabled financial sector of Pakistan to adopt prudential regulations to manage operational, legal, credit and reputational risks. Finally the dissertation concludes with recommendations for bringing further improvement in the measures taken by Pakistan to combat money laundering with emphasis upon controlling the sources of dirty money, implementation of Good Governance, respect for writ of judiciary , public awareness programmes to encourage home remittances through legal channels and overall understanding of socio-cultural values of societies for effective international co-ordination and convergence of policies to combat money laundering for strong global economy and lasting peace among nations.
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مولانا مجیب اﷲ ندوی

آہ ! مولانا مجیب اﷲ ندوی
افسوس ہے کہ دارالمصنفین کے سابق رفیق، جامعتہ الرشاد کے بانی و ناظم مولانا مجیب اﷲ ندوی نے داعی اجل کو لبیک کہا، اناﷲ وانا الیہ راجعون۔
وہ ان علما میں تھے جو اسلامی علوم سے واقف ہونے کے ساتھ ہی زمانے کے حالات قوم و ملت کے مسائل اور اپنے ملک اور دنیائے اسلام کے واقعات سے بھی باخبر رہتے تھے، ان کا انتقال ۱۲؍ مئی ۲۰۰۶؁ء کو مغرب کے وقت لکھنو کے ایک پرائیویٹ اسپتال میں ہوا، دوسرے روز صبح کو ان کی لاش اعظم گڑھ لائی گئی اور اسی دن سہ پہر کو جامعتہ ارشاد کے جس کمرے میں وہ رہتے تھے اسی سے متصل پورب کی طرف کے قبرستان میں ان کی تدفین ہوئی، مولانا بڑے چاق و چوبند اور چلت پھرت کے آدمی تھے، سفرکثرت سے کرتے تھے مگر گزشتہ دو تین برس سے طول عمر اور ضعف و علالت کے باعث جامعتہ الرشاد کے باہر نکلنا بند کردیا تھا مگر اس معذوری اور خانہ نشینی کے باوجود ان کا ذہن و دماغ پوری طرح کام کرتا تھا اور لکھنے پڑھنے کا مشغلہ بھی ایک حد تک جاری تھا شروع سے وہ نماز کا بڑا اہتمام کرتے تھے، سفر حضر ہر جگہ جماعت سے نماز ادا کرتے تھے مگر آخر میں ضعف اتنا بڑھ گیا کہ مسجد کی حاضری موقوف ہوگئی جس کا انہیں بڑا ملال رہتا تھا۔
انتقال سے کئی ہفتے پہلے ان پر غشی طاری ہوئی اور بات چیت بند ہوگئی اور بالآخر وہ وقت آپہنچا کہ ان کی جوش عمل سے سرشار، متحرک جدوجہد سے معمور اور ہر دم رواں دواں رہنے والی زندگی کا خاتمہ ہوگیا اور قوم و ملت کا یہ ہم درد اور بہی خواہ اپنے مالک حقیقی سے جاملا۔
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