If you have tried to receive money from a foreign country or tried sending some money abroad, you might be familiar with the bureaucratic obstacle course that the banks make you do. Why do they do that? Why are big investment and commercial banks afraid to come to Pakistan? Is Pakistan not a big enough market for them? Does Pakistan not have enough potential for business from these countries and companies? While the answers to this “why” may be debatable, one of the biggest reasons that Pakistanis have to hula hoop through the procedural steps of enhanced due diligence, and that Pakistan doesn’t get the due amount of foreign investment is attributed to Pakistan’s placement on the FATF grey list.
If you know what the FATF is, and what they go about doing around the world, feel free to skip the next two headings. If you don’t? Hang in there! The content in this publication is expensive to produce. But unlike other journalistic outfits, business publications have to cover the very organizations that directly give them advertisements. Hence, this large source of revenue, which is the lifeblood of other media houses, is severely compromised on account of Profit’s no-compromise policy when it comes to our reporting. No wonder, Profit has lost multiple ad deals, worth tens of millions of rupees, due to stories that held big businesses to account. Hence, for our work to continue unfettered, it must be supported by discerning readers who know the value of quality business journalism, not just for the economy but for the society as a whole.To read the full article, subscribe and support independent business journalism in Pakistan
A very insightful article to highlight a much valid point, however I would have appreciated if some recommendations for the solution were also presented here.
사설 카지노
j9korea.com