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Karzai signs anti-money laundering law

Karzai signs anti-money laundering law

Jun 25, 2014 - 18:51

KABULinfo-icon (Pajhwok): In an expected move, President Hamid Karzai on Wednesday signed into law a money-laundering draft, already approved by the parliament.

The Office of Administrative Affairs said the president had signed the law to prevent money-laundering and terrorist financing in the country.

During an extraordinary session today, the Senate accorded approval to a measure prohibiting terrorist financing. Thirty-seven senators voted for and one against the law.

Coming in response to growing international calls and warnings, the law will be published in the Official Gazette, according to a statement from the Presidential Palace.

On Tuesday, the central bank urged Karzai to sign the draft anti-money laundering law as soon as possible to prevent Afghanistaninfo-icon’s banks from being blacklisted. 

The Meshrano Jirgainfo-icon -- or upper house of the parliament -- approved the draft law by a majority of vote. The Wolesi Jirgainfo-icon had endorsed it eight days ago. The law has 10 chapters and 70 articles.

Da Afghanistan Bank (DAB) Deputy Governor Khan Afzal Hadawal, currently attending in the ongoing meeting of the Financial Action Task Force (FATF) in France, said the participants would take a decision on the fate of Afghan banks.

He told Pajhwok Afghan News over the telephone from France said it was important Karzai signed the measure into law. Representatives from some FATF countries have promised to extend the deadline, but others oppose such a move.




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