Anti Money Laundering Initiative
The Anti Money Laundering Ordinance was promulgated in September 2007. The Ordinance requires SECP to implement preventive measures for Anti Money Laundering (AML) and Combating Financial terrorism (CFT) in sectors under its purview.  Subsequently the Rules and Regulations under the AML have also been notified. SECP has emphasized the need for more regulatory control and is in the process of formulating guidelines on AML. A circular on minimum KYC/CDD measures to be taken at the time of opening the account has already been issued in conformity to the AMLO in April 2009.