ISLAMABAD, Feb 7: Pakistan has agreed to share information with the United States on transfer of money and channels mainly relating to money laundering, hundi and hawala.

A team of US treasury officials and State Department held here on Thursday a meeting with Chairman of Securities and Exchange Commission of Pakistan (SECP) Khalid A. Mirza.

An official statement of SECP said that Khalid Mirza assured the US team “of full cooperation from the commission and sharing of public information”.

The officials of US treasury and state department are currently on a visit to Pakistan “in pursuance of the policy agreed by the coalition partners in the aftermath of the Sept 11 events for sharing information about working of the corporate sector, especially relating to methods of transfer of money and channels available to finance possible illegal activities,” the SECP said.

The SECP said these officials assisted by the US embassy staff were meeting with trade bodies and regulators in connection with investment in capital market, money exchange and money transfer business.

It said that money laundering, hundi and hawala which were considered to be among the sources of illegal financial activities, including terrorism, were subjects of particular interest.

The US delegation comprised George Edwin Smith, III, director department of treasury, Mike Gayle of state department, Carol A. Mesheske, chief special activities division of supervision of federal deposit insurance corporation and the local embassy staff.

The SECP chairman, briefing the US team about Pakistan’s capital market, said the Pakistani securities regulator had already achieved the 30 international standards prescribed by the international organisation of securities commissions (IOSCO).

It was now concentrating on bringing the country’s corporate sector in conformity with the international standards of corporate governance practices, he said.