Pakistan has sent its recent report to the Financial Action Task Force (FATF) on the progress of its counter-terrorism, anti-extremism and money laundering initiatives.
As set out in depth, Pakistan has ensured that the implementation of 27 FATF points will be completed and progress on the remaining 6 points will be completed as soon as possible.
There is a strong possibility that good news will come about Pakistan’s exit from the FATF ‘grey list’ in the current year.
A one-day face-to-face conversation between Pakistan and the FATF took place weeks ago, in which the Pakistani delegation was led by Hammad Azhar, Federal Minister for Industries and Development.
Documentary proof of complete implementation of 21 out of 27 points has been handed over to the authorities by the Pakistani authorities, thus ensuring substantial progress on the remaining 6 points. It has been learned that about 50 to 70 percent of work on the implementation of these 6 points has been completed.
Back in October last year, FATF agreed to retain Pakistan’s position on its ‘grey list’ of countries with insufficient control over curbing money laundering and funding terrorism, media announced.
Pakistan’s progress on the 27-point action plan to counter anti-money laundering and terror financing has been reviewed by the global watchdog.