Saturday, November 26, 2022

Pakistan’s FATF fate to be decided today

Pakistan’s FATF fate to be decided today

ISLAMABAD (92 News) - The decision regarding Pakistan’s removal from Financial Action Task Force’s (FATF) Grey List is expected to come out today.

A virtual session began its three-day virtual meeting on Wednesday. With compliance of 21 points out of 27 action plan placed by international watchdog to combat money laundering and terror financing, the FATF’s plenary meeting kick-started in Paris.

The FATF meeting will decide fate of Pakistan either to keep it on grey list for another extended period or to remove it from the grey list. Pakistan’s case will be taken up on the last day of the meeting on Friday.

At least after enactment of 15 pieces of legislations, many of them through joint sitting of Parliament, Pakistani authorities are confident that there are minimal chances for placing Pakistan on the blacklist.

“Pakistan’s case will be discussed on October 23, 2020 at FATF’s plenary meeting and our efforts will not go waste,” one top government official said on the condition of anonymity here on Wednesday.

Pakistan’s performance on different targets was shared in earlier weeks and now Pakistani authorities are expecting positive outcome on coming Friday. “We are expecting a positive nod from the FATF’s epic body,” he hoped.