Tuesday, July 5, 2022

Pakistan complied with all the actions described in the FATF plan

Pakistan has finished all of the tasks that were outlined in the action plan that was provided by the Financial Action Task Force (FATF).

According to sources inside the Foreign Office (FO), the Ministry of Foreign Affairs (MoFA) would be able to oversee the matters pertaining to the upcoming meeting of the Financial Action Task Force (FATF). Regarding this matter, the Ministry of Foreign Affairs has chosen to pursue a course of extreme caution.

According to credible sources, the international gathering of financial regulators will take place in Berlin between the dates of June 13 and June 17 this year. The 15th and 16th of June will be dedicated to the discussion of Pakistan’s review at the plenary session.

Hina Rabbani Khar, Pakistan’s State Minister for Foreign Affairs, will be the country’s representative at the meeting that is scheduled to take place in Berlin. According to further sources, Pakistan is quite likely to receive some positive news since the country has achieved all of the goals necessary to remove itself from the grey list maintained by the task force.

Since June of 2018, Pakistan has been placed on the grey list due to shortcomings in its anti-money laundering and countering the financing of terrorist organizations regimes.

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It is important to note that Pakistan will remain on the grey list maintained by the financial watchdog, which is a worldwide organization based in Paris that monitors money laundering and the financing of terrorist organizations, until June 2022.

The Financial Action Task Force (FATF) reported during the most recent plenary session that Pakistan has achieved good progress and has mostly addressed 26 out of 27 issues on the action plan to which it initially committed in June 2018.

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