PARIS – FATF To Announce Pakistan’s Possible Exit From Grey List. The Financial Action Task Force (FATF), today, will formally announce its decision regarding Pakistan’s exit from grey list or not.
According to details, Pakistan will likely have further time till October to achieve full compliance with the FATF 27-point action plan. This also includes the subsequent exit from the infamous ‘Grey list.’ As per reports, India tried its best to blacklist Pakistan. Almost all of the countries rejected New Delhi’s attempt to blacklist Pakistan.
The FATF members praised Pakistan for taking effective steps, countering money laundering, and terror financing. The FATF expressed satisfaction with Pakistan’s performance report. As per reports, Pakistan has fully implemented 14 out of 27 points of FATF recommendations. FATF To Announce Pakistan’s Possible Exit From Grey List.
Meanwhile, the FATF members have called Pakistan for more steps towards the plan. Government has made effective legislation to exit the grey list. The FATF has said Pakistan must ensure implementation of money laundering laws. Pakistan was placed on the grey list by the Paris-based watchdog in June 2018 and was given a plan of action to complete it by October 2019.
Earlier, Minister for Foreign Affairs Shah Mahmood Qureshi said Pakistan had successfully fulfilled the requirements and guidelines of FATF. He said that the present government took sweeping steps to check terror financing and money laundering with effective legislation.
The Pakistani delegation is being led by Federal Minister for Economic Affairs Hammad Azhar. He is accompanied by officials of the Ministry of Finance, the State Bank, and Federal Board of Revenue (FBR). More than 800 representatives from 205 countries and jurisdictions around the world, the IMF, UN, World Bank and other organisations are participating in these meetings.