PARIS – New developments reported over the Pakistan’s case in theFinancial Action Task Force.
Pakistan has accelerated ‘diplomatic efforts’ as part of preparation aheadof meeting with the global financial watchdog Financial Action Task Force’s(FATF) Working Group in Beijing on January 20-21.
Pakistan will be judged by an FATF plenary next month on the basis of theJoint Group’s report for possible exit from the grey list or at leastavoiding the entry into the black list.
Federal Minister for Economic Affairs Hammad Azhar has been himselfmonitoring the contacts with FATF member states.
An 18-member delegation will present Pakistan’s performance report fromOct. 2019 till Jan. 2020 in compliance with the FATF Action Plan’s 27recommendations concerning Anti-Money Laundering (AML) and countering thefinancing of terrorism (CFT) system.
Pakistan has already sent a 650-page report to the global financialwatchdog, and it will be considered by the body’s meeting starting fromFeb. 16 in Paris.
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Sources familiar with the matter expressed a possibility that voting mightbe done to consider Pakistan’s exit from the grey list.
The FATF had demanded Pakistan to sentence those who had been associatedwith the banned outfits and summoned copies of cases lodged against thoseorganisations.
Details were also sought about legal steps taken concerning religiousseminaries, action against money laundering, and transfer of funds, assetsand jewelry in the name of terrorists.
