Saturday , March 28 2020

Will FATF remove Pakistan from the grey list?

FATF

ISLAMABAD: The threat of blacklisting Pakistan is no more, the question now arises that if Financial Action Task Force (FATF) removes Pakistan from the grey list and add it on the white list or not.

FATF meeting begins in Paris, Pakistan completes 14 out of 27 tasks given by FATF, decision will be made on political and diplomatic efforts; Pakistan will be excluded from the grey list and will remain for another six months, adding to the process of “Audit of financial institutions through the State Bank, the process of coordination of federal and provincial departments”.

Sources said that Pakistan is adhering to all the provisions of the Anti-Money Laundering watchdog. On the other hand, Pakistani officials say that all things are still secret, that a government stand will be presented at the end of the meeting.

Related: Pakistan has shown outstanding performance to get out from FATF grey list

According to the details, the Financial Action Task Force (FATF) has seen the full implementation of Pakistan on 14 points out of the total 27 action plans, indicating that the country adheres to all the requirements of the Anti-Money Laundering Agency.

If the fate of Pakistan is decided with 2 possibilities in the FATF meeting starting this week in Paris and continuing this week, either Pakistan will be removed from the grey list and be added to the “white” list or remain in the grey list for the period of 3-6 months.

Given Islamabad’s progress over the past one year, any possibility of blacklisting Pakistan has been completely eliminated. Although India tried to discredit Pakistan, it was unable to do so despite strong lobbying on the diplomatic front.

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