Return of stolen assets

Prime Minister Imran Khan Thursday urged the world community to seek commitment from the “haven” countries to return all foreign stolen or illegitimate assets, and develop international anti-money laundering legal instruments. Addressing as a keynote speaker at the virtually held launching ceremony of the Final Report of the High-Level Panel on International Financial Accountability, Transparency and Integrity for Achieving the 2030 Development Agenda (FACTI Panel), the prime minister called for considering the OECD’s (Organisation for Economic Co-operation and Development) proposal to freeze and return the unexplained assets of foreign “Politically Exposed Persons”. The event was also addressed by 75th President of the General Assembly Volkan Bozkir and 76th President of the Economic and Social Council Munir Akram. The report presents 14 recommendations to reform, redesign and revitalize the global architecture, so it can effectively foster financial integrity for sustainable development. Besides, it stresses for strengthening coordination and global governance related to financial integrity as an essential component of the common agenda for the common future of present and coming generations. Urging for some quick concrete actions, the prime minister first emphasized on “a commitment by “haven” countries to immediately and unconditionally return all foreign assets that were shown to be stolen or whose “legitimacy” could not be explained. “The OECD’s proposal to freeze and return the unexplained assets of foreign ‘Politically Exposed Persons’ is worthy of consideration.”
Sohail Ali Khan
Islamabad

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