ISLAMABAD – Financial Action Task Force session in Paris takes the finaldecision over Pakistan greylist or blacklisting.
The ongoing Financial Action Task Force meeting in Paris today declaredthat Pakistan will not be placed on blacklist. However Pakistan be in thegrey list till February 2020. The formal announcement for the same will bemade on October 18.
The Paris-based financial watchdog has asked Pakistan to take furthermeasures in the next four months to curb terror-funding.
FATF reserved the final decision for February 2020 when it will bedeciding whether or not to Greylisted or blacklist Pakistan.
Pakistan delegation led by its Economics Affairs Minister Hammad Azhar toldthe organisation that the country was meeting 20 of 27 parameters. Itclaimed that the FATF was satisfied with the measures adopted by Islamabadand its progress in several sectors, reported The Dawn.
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The FATF has directed Pakistan to take extra measures to eradicate terrorfinancing after reviewing the latest steps taken by the country to curbmoney laundering.
In June 2018, FATF had put Pakistan in the grey list and gave it a time of15 months to take appropriate measures to curb transaction of money toterror outfits. It had suggested a 27-action plan to Islamabad warning thatif it failed, it will be blacklisted which prohibits financial aid to acountry from international economic forums.
The FATF meeting will conclude on October 18 and is being attended byrepresentatives from 205 countries. Organisations to have convened for themeet include the International Monetary Fund, the United Nations and theWorld Bank.
