Monday, November 28, 2022

Pakistan to remove from FATF grey list

It is expected that Pakistan will be removed from the grey list maintained by the Financial Action Task Force (FATF), as an announcement to this effect will be made by Dr. Marcus Pleyer today during a press conference.

During the plenary meeting of the FATF, the compilation report of Pakistan regarding the tasks assigned by the anti-money laundering body was discussed and reviewed.

At the moment, a Pakistani team that is being led by the Minister of State for Foreign Affairs Hina Rabbani Khar is in Germany, where they are participating in an important session of the Financial Action Task Force (FATF).

According to the information provided, the delegation, which will be led by Hina Rabbani Khar, has already departed for Berlin in order to participate in the important FATF meeting. Officials from the Ministry of Foreign Affairs and the Ministry of Finance, along with other senior officials, make up the delegation.

The financial watchdog is holding its conference in Berlin beginning on June 13, and it will publish its verdict on the grey list today. The meeting will remain for four days.

It is important to note that Pakistan has completed the implementation of 26 out of 27 items on the action plan that it initially committed to in June 2018 with the Financial Action Task Force (FATF). Following that, the probability of Pakistan being removed from the grey list has been more transparent.

Read Also: Pakistani delegation flies to Germany to attend a meeting of FATF

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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