A new Sanctions & Regulatory Division has been set up at ABS & Co. to provide clients with specialized advise related to sanctions law and financial regulation.

With the increasing importance of individual and sectoral sanctions, there are fears that sanctions are now being used as instruments of economic and foreign policy. As these sanctions become more and more intrusive, we anticipate that businesses in Pakistan that are involved in cross-border transactions will need to navigate through the challenges caused by these sanctions including disruption in supply chains and limiting access to capital and financial markets. Indeed, some of our clients are already beginning to face these challenges.

The Division is currently advising a number of local businesses engaged in import and export, major companies on cross-border investments, banks on anti-money laundering requirements, and regulatory authorities on sectoral and individual specific sanctions.

Recently, the Division advised the Government of Pakistan on compliance with the requirements of the Financial Action Task Force (FATF) and its recommendations pertaining to the domestic implementation of the financial sanctions regime of the United Nations.

The Division is being led by Daud Aziz Khokhar under the supervision of the Managing Partner, Ahmer Bilal Soofi. The Division will benefit from over thirty years of experience in advising on matters relating to international financial sanctions including sanctions imposed by the United Nations Security Council on Al-Qaeda, Taliban and their affiliates, regional sanctions of EU and unilateral sanctions imposed by the United States of America on individuals, countries as well as specific industry sectors.