Pakistan seek 12 votes out of 39 to exit from the FATF greylist

Shares
Pakistan seek 12 votes out of 39 to exit from the FATF greylist

ISLAMABAD - Pakistan seek 12 votes out of 39 votes to exit from the Financial Action Task Force greylist.

The five-day session of the Financial Action Task Force (FATF) will commence today (Sunday) in Paris, where Pakistan’s performance on the implementation of the global financing watchdog’s 27 action points to curb terror financing and money laundering would be reviewed.

Analysts expect Pakistan to either exit the grey list soon after winning a “largely-compliant” rating from the FATF or might get more time from the watchdog to ensure full compliance.

Pakistan will be judged by an FATF plenary meeting in the meeting on the basis of the joint group’s report, for a possible exit from the grey list or at least avoiding the blacklist.

According to media reports, Pakistan needs only 12 out of 39 votes to exit the grey list.

Pakistan has already gained full support from China, Turkey and Malaysia, and aims to obtain 12 votes with escalated diplomatic campaign. Pakistan has ensured significant implementation on most of the recommendations and took necessary actions.

On Jan 28, the State Bank of Pakistan stated that Pakistan had made significant progress to get off the grey list while the central bank had been making all-out efforts to curb money laundering and terror financing.

While announcing the monetary policy with unchanged interest rate of 13.25pc, SBP Governor Dr Reza Baqir had said that the last two [FATF] reviews in May and September showed that Pakistan had made significant progress in most of the 27 points raised by the FATF.

Pakistan