[su_dropcap style=”light” size=”5″]T[/su_dropcap]he Securities and Exchange Commission of Pakistan (SECP), to further strengthen SECP’s AML/CFT regime, has proposed certain amendments in the Anti Money Laundering and Countering Financing of Terrorism Regulations, 2018. The amendments that are in line with the FATF Recommendations and international best practices have been placed on SECP’s website for public consultation.
The proposed amendments elaborate on the Risk Based Approach requiring regulated persons(RPs) including; securities brokers, futures brokers, insurers, Takaful operators, non-banking finance companies (NBFCs) and Modarabas to conduct risk assessment that is aligned with Pakistan’s latest National Risk Assessment and ensure implementation of Targeted Financial Sanctions.
The minimum information required for the purpose of KYC/CDD has been listed to make documentation requirements simple and clearer. Moreover, the draft amendments provide more clarity on verification for Beneficial Ownership, close associates and family members of PEPs. The RPs are encouraged to use technological solutions for screening and monitoring of transactions as per best practices.
The SECP has tried to address the regulated sector’s feedback regarding gaps in the implementation of AML/CFT Framework. The proposed amendments are placed at SECP’s website https://www.secp.gov.pk/document/s-ro-56i-2020-amendments-in-aml-regulations-2018/?wpdmdl=38233 . Public/Stakeholders may send their comments latest by February 27, 2020 at Securities and Exchange Commission of Pakistan, NICL Building, 63 Jinnah Avenue, Islamabad or at Email: [email protected]
The United States Policy Towards Kashmir: Past & Present
The Kashmir conflict is often referred as potentially the most dangerous dispute in the world, as it involves the fate of 1.5 billion people of South Asia which is one fifth of total human race. Yet it is amazing that the world powers, with the United States as the sole super-power, maintains a largely leave-it-alone posture towards the problem. It is true that, at points of tension, world powers including the United States counsel restrain to India and Pakistan and warn them of the dangers of brinkmanship. Despite these warnings, hostilities do break out, conflict remains unresolved, the colossal waste of an arms race remains unavoidable, and peace is not made secure,” this was stated by Dr. Ghulam Nabi Fai, Secretary General, World Kashmir Awareness Forum during 5th International ASSAM Islamic Union Congress, held in Istanbul on December 18-19,2021
The conference was held with the participation of Üsküdar University (ÜÜ), Kütahya Dumlupınar University (KDU), Justice Defenders Association (ASDER), Union of NGOs of the Islamic World (UNIW) and Pakistan Centre for Aerospace and Security Studies (CASS), on ‘Determination of Principles and Procedures of Joint Foreign Policy for the Muslim world.’
Dr. Fai’s topic was, “The policy of the United States towards Kashmir.’ Other issues that were discussed during the two-days international conference were, ‘Islamophobia’; Afghanistan; Palestine; Lebanon; Yemen; Iraq; Syria; Libya, Sudan-Ethiopia; East Turkestan; TRNC and Eastern Mediterranean issues. 63 scholars, academics, diplomats from more than two dozen countries presented their research papers.
Dr. Fai elaborated that it was a historical fact that when the Kashmir dispute erupted in 1947-1948, the United States championed the stand that the future status of Kashmir must be ascertained in accordance with the wishes and aspirations of the people of the territory. The United States was the principal sponsor of the resolution # 47 which was adopted by the Security Council on 21 April 1948 and which was based on that unchallenged principle. Following the resolution, the United States as a leading member of the United Nations Commission for India and Pakistan (UNCIP), adhered to that stand.
“Historically, the Kashmir dispute has been the most lasting victim of the cold war, during which the Soviet Union vetoed every resolution of the Security Council to implement the Council’s agreed upon resolution. It is tragic that, even after the end of the cold war, the imbroglio has persisted, and the people of Kashmir have been subjected to grave abuses of their human rights. This is a fact which should weigh heavily on the international conscience. It should also be a challenge to international statesmanship,” Fai added.
Fai warned that an indication of the misplaced focus of the world powers including the United States is the wrong-headed talk about the “sanctity” of the line of control in Kashmir. It is forgotten that this line continues to exist only because the international agreements which had been concluded between India and Pakistan, with the full support of the United States. This line was originally formalized by that agreement as a temporary cease-fire line pending the demilitarization of the State of Jammu and Kashmir and the holding of a plebiscite under impartial control to determine its future. To regard this line as a solution is to regard disease as remedy. Any kind of agreement procured to that end, whether by the U.S. or under its influence, will not only not endure; it will invite resentment and revolt against whichever leadership in Kashmir will sponsor or subscribe to it.
Fai said that it was hard to understand why, contrary to its traditional principled stand on the Kashmir dispute, the world powers have been in recent years treating the problem as if it were an unchartered terrain about which no road map exists. The United Nations has at its inception devoted immense labor and thought, extending over a hundred meetings of the Security Council with active U.S. participation, to its solution. The fact cannot be dismissed that the terms of settlement the United Nations worked out did elicit the signed agreement of both India and Pakistan. It may be admitted that those terms seem to be in need of revision in the light of current or emergent realities but their basis, the consent of the people of Kashmir, remains inviolable. Neither pragmatism nor morality would sanction the setting aside of that basis.
“What should be the procedure for putting the Kashmir dispute on the road to a settlement? For the United States to do so by itself would be to arouse undue suspicion as though the United States has its own axe to grind. The better way would be that United States asks the Secretary General of the United Nations, with the concurrence of the Security Council, to engage himself, directly or through a representative of high international standing, in a sustained effort of mediation which should (a) ensure that the positions of the people of Kashmir is fully taken into account and (b) aim at a settlement within a reasonable time-frame, providing for a transitional period, if necessary, for a calming effect,” Fai suggested.
“In order to quicken and strengthen the peace process, United States would definitely recommend improving the atmosphere in Kashmir by revoking the Domicile Law, which is designed to change the demography of Kashmir, releasing of all political prisoners, a full restoration of civil liberties, including the liberty to express themselves peacefully on the question of their own future,” Fai concluded.
Dr. Fai can be reached at: 1-202-607-6435. Or. [email protected]
McMurray Stern: Using Innovative Techniques to Fulfill Your Storage Needs
McMurray Stern is ready to take on any storing challenge. With over 40 years of experience, McMurray Stern has been able to stay ahead of the game by developing new innovative, automated techniques while providing cost-effective, top quality, storage solutions.
“There is no product too delicate or space too challenging … As your single point of contact, McMurray Stern saves you time and money. We are dedicated to helping you get the most out of the space you already have.”
By providing solutions such as automated systems, turn-key workspaces, custom shelving, and lockers and racking, McMurray Stern is prepared to assist any company across any industry for their storing needs. Helping those in Retail, Grocery, Manufacturing, Agriculture, Business, Healthcare, Museums, Public Safety, Military/Government, Libraries, and Athletics, McMurray Stern has proven to be able to provide top notch storage for any customer that comes their way.
Their “fully integrated design-build process ensures projects are professionally managed from concept to execution” that allows for a quicker, more efficient way of managing time, space, materials, and information. Pat Fitzpatrick, Vice President of Sales and Marketing, states that “we are driving our newer automation business to match the current explosive growth that the industry is currently experiencing…”
Though there has always been a need for companies like McMurray Stern, a greater need has arised because of the Covid-19 pandemic, leading to McMurray Stern taking this as an opportunity for improvement. Their shift to automation allowed for the company to create less room for error, along with more room to produce superior storage solutions.
These systems will be comprised of Automated Guided Vehicles (AGVs), Conveyors, Vertical lifts (VLMS), MiniLoads, Carousel Systems, Shuttle Systems, Picking Systems, Cranes, and Lift&Run machines. With these processes, McMurray Stern’s automated systems are prepared to help in any way possible. They will be able to “enable highly efficient storage and picking processes in the smallest possible space,” while also helping as an ideal automated storage-retrieval system in any warehouse.
According to President Kenny DeAngelis, his favorite part of McMurray Stern is “creating a vision for the company and a strategic direction; thus setting up the company for future success… Ultimately, if you believe in your vision, then it’s a matter of getting your employees to believe in it as well and bringing on the necessary new talent to execute.”
His belief in his own vision has brought him clients like Oakley, Kaiser Permanente, BBraun, Amgen, and many more. A force to be reckoned with, working with a diverse array of industries and clients, it is exciting to see what McMurray Stern will make of storing in the upcoming years, for true innovation is to be unveiled.
MCMURRAY STERN CONTINUES TO BE A MAJOR PLAYER IN BUSINESS EFFICIENCY AND THE INDUSTRIAL MARKET HUB
For over 40 years, McMurray Stern continues to be a playmaker in the online shopping world with the Amazon’s of the market. As a specialty contractor, their fully integrated design build process ensures projects are professionally managed from conception to execution, managed by a team responsible for design, order placement, planning, site meetings, installation, and service and maintenance. As a company made for evolution, McMurray Stern have learnt to adapt quickly in order to easily handle crisis events like COVID-19.
Known best for their ability to make companies more efficient and save them money, McMurray Stern is located in Southern California, where no other automation company will have a presence on the West Coast. Partnering with some of the largest automation and robotics companies, Schaefer and Fanuc Robotics, they pride themselves on knowing that there is no product too delicate, or space too challenging where they can make a difference.
As COVID created fast turnarounds for the e-commerce industry, McMurray Stern turned those dreams into a reality for many companies. And while this year has created many challenges, President Kenny DeAngelis comments, “my favorite part is really creating a vision for the company and a strategic direction; thus setting up the company for future success… Ultimately, if you believe in your vision, then it’s a matter of getting your employee’s to believe in it as well, and bringing on the necessary new talent to execute.”
His interest in the field is what DeAngelis calls “an opportunistic buy.” With great infrastructure already in place, McMurray Stern needed that new life and energy that he brought. Looking at it like “a fixer upper house in a great block and neighborhood,” DeAngelis created the solutions with a team that was ready for anything.
Having already worked with companies like Metro, NASA JPL, Oakley, Kaiser Permanente, and many more, they continue to serve the business, healthcare, industrial, military, athletic, and public industries now more than ever. With hopes to have their own software engineers, creating software driven solutions, and AI machine learning, McMurray Stern continues to look to the future with bright eyes to serve our ever evolving world in a greater way.
To learn more about McMurray Stern, visit https://mcmurraystern.com/.
Contact: Jane Owen
+1 (323) 819-1122
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