ISLAMABAD – Pakistan faces the biggest test in global moot of theFinancial Action Task Force under Chinese Chairmanship starting today inParis.
The crucial meet of the Financial action task force or FATF, the globalanti-terror financing body will begin on Sunday in Paris which will decideif Pakistan will be put on the blacklist or removed from the greylist.
FATF in a release said, “Progress by Iran, Pakistan and other countriesthat present a risk to the financial system”. The week-long meet willfinish on Friday (Septembr 18) and this is for the first time thefull-fledged plenary meeting is taking place under the new Chinesepresidency of Xiangmin Liu.
A five-member Pakistani team led by Hammad Azhar the Federal Minister forEconomic Affairs of the country has reached Paris for the meet.
In early 2019, the former President of FATF Marshall Billingslea had saidthat the country has to do “significant work to meet the obligations theythemselves undertook” as part of there high-level commitments and thecountry is “lacking in almost every respect of action plan.”
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FATF is a technical body, whose main aim is to protect the internationalfinancial system and the 30-year-old body works on the consensus of membercountries.
The meet happens days before the Asia pacific group (APG) of the FinancialAction Task Force had released the mutual evaluation report of Pakistantaken up during the August meet in Australia in which the country had notdone well.
