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Pakistan submits compliance report to FATF

FATF to decide for Pakistan seeking to exit from grey list today
ISLAMABAD: Minister for Economic Affairs Hammad Azhar said that Pakistan has submitted its agreement report to the Financial Action Task Force (FATF).
The agreement report will be based on anti-money laundering and counter-terrorist financing laws.
Hammad Azhar said that Pakistan, “There will be a response from the FATF and then there would be a face-to-face meeting.” 
Azhar further said, “We are hoping that the organization extends the current deadline of complying to FATF’s 27 action plans from February to June 2020 in its upcoming plenary review meeting.”

Read more: FATF expresses satisfaction on measures taken by Pakistan

However, sources said that the FATF had already granted an extension till February 2020 in a meeting held in October this year.
Pakistan is expecting to get the first formal response on the report by the end of this month.
The FATF is an inter-governmental body established in 1989 to combat money laundering, terrorist financing and other related threats to the integrity of the international financial system.
The FATF has linked the blacklisting of Pakistan with unsatisfactory steps to curb money laundering and terror financing. The final decision will be made in February 2020.
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