Definition of 'hawala' transaction: Interpol has defined 'hawala' transaction as "Money Transfer without money movement". This appears to be the most appropriate description of prevalent practice as used in South East…
FATF is a multilateral forum that concerns itself with setting global standards against money-laundering and terrorism financing. An adverse decision could put Pakistan back on a grey-list of countries that…
Pakistan floated two capital market transactions, a Sukuk and a Euro Bond. Both met with remarkable successes. The two issues were over-subscribed by 2.5 times compared to the amount of…
The phrase ‘leaving no one behind’ signifies the key objective of inclusive and sustainable development as enshrined in the United Nations’ Sustainable Development Agenda 2030. This inclusive sustainable development vision,…
One of my friends runs a small-scale business. His business is located in the older part of Rawalpindi – in a place popularly known as purana shehr. While the outlines…
The term "shell company" generally refers to limited liability companies and other business entities with no significant assets or ongoing business activities. Shell companies are formed for both legitimate and…
Swiss banks UBS and Credit Suisse are interested in advising the Russian government on several privatisations as long as the deals do not violate sanctions, three banking sources told Reuters.…
Credit guarantees are gaining traction in Islamic finance, helping a wider range of firms to tap the market for sharia-compliant debt, which remains stubbornly reliant on sovereign and quasi-sovereign issuers.…
The cost of fighting financial crime is said to be enormous. In the US alone, the cost of anti-money laundering ("AML") compliance is estimated at $23.5 billion per year. European…
International trade law is a complicated subject as it involves transnational transactions; it derives its sources from customary international law, international conventions, bilateral treaties, and multilateral treaties. These instruments of…
