ISLAMABAD: In a positive development, Pakistan likely to exit FinancialAction Task Force greylist.
Pakistan is expected to exit the Financial Action Task Force’s (FATF) greylist soon after winning a “largely-compliant” rating from the globalillicit financing watchdog on the implementation of its 27 action points,which might help the government get more time from the watchdog for fullcompliance.
The meeting is set to take place in Paris from February 16. Pakistan willbe judged by an FATF plenary meeting in the meeting on the basis of theJoint Group’s report, concluded last month, for a possible exit from the‘grey list’ or at least avoiding an entry into the black list.
Sources familiar with the matter told the media on Monday that Pakistanneeds only 12 out of 39 votes for exiting the grey list.
Pakistan has already gained full support from China, Turkey and Malaysia,and aims to obtain 12 votes with escalated diplomatic campaign. Pakistanhas ensured significant implementation on most of the recommendations andtook necessary actions.
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On Jan. 28, the State Bank stated that Pakistan had made significantprogress to get off the grey list of the FATF while the central bank hadbeen making all-out efforts to curb money laundering and terror financing.
While announcing the monetary policy with unchanged interest rate of 13.25percent, SBP Governor Dr Reza Baqir said that the last two reviews in Mayand September showed that Pakistan had made significant progress in most ofthe 27 points raised by the FATF.
However, he said, the FATF was the final authority to decide if theprogress was enough to pull Pakistan out of the grey list, adding that thecountry would have to continue making progress in this direction.
