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Pakistan likely to exit FATF’s grey list: Sources

ISLAMABAD: Pakistan is expected to make it out of the Financial Action Task Force (FATF) grey list this year.

Pakistan has sent its latest report to the Paris-based global watchdog on the progress in significant counter-terrorism, counter-terrorism and money laundering measures. According to official sources, the country has assured to complete the implementation of 27 points of FATF and to complete the ongoing progress on the remaining six points as soon as possible.  

Sources said that there is hope for good news from the FATF regarding the removal of Pakistan’s name from the gray list this year. According to sources, one-day face-to-face talks were also held between Pakistan and FATF two or three weeks ago in which the Pakistani delegation was led by Federal Minister Hamad Azhar.

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Sources said that Pakistan has handed over to the authorities the documentary evidence of full implementation of 21 out of 27 points while assuring significant progress on the remaining six points. About 50 to 70 percent of these six points have been implemented.

The FATF had placed Pakistan on the grey list in June 2018 and asked Islamabad to implement a plan of action to curb money laundering and terror financing by the end of 2019, but the deadline was extended later on due to the coronavirus pandemic.