*ISLAMABAD –**Pakistan seek positive development from the Financial ActionTask Force plenary session.*
* The Financial Action Task Force (FATF) expressed satisfaction overPakistani actions against money laundering and terror financing during ameeting in Paris on Wednesday.*
According to the sources, Pakistan avoids blacklist as FATF acknowledgedactions against terror financing in the meeting. The sources stated thatPakistan received applaud at the FATF meeting, eliminating the concerns ofbeing dragged to the global body’s blacklist.
Pakistan is currently on the grey list of the FATF and there would be novoting on removing the country from it as the grey list is enacted for acountry for a period of two years.
“Another review of Pakistan’s implementation on the 27 targets will be heldat the anti-money laundering forum in October 2020,” the sourcesmaintained. It added that India’s bid to drag Pakistan into the blacklistof the FATF was foiled and the member states of the body applauded thecountry’s efforts towards implementing on their recommendations on the 14out of a total of 21 targets.
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During the review process, the member states remained satisfied over theactions taken by the State Bank of Pakistan (SBP), Security and ExchangeCommission of Pakistan (SECP), Federal Board of Revenue (FBR) and FinancialMonitoring Unit (FMU).
“The FATF also expressed its satisfaction over the working of NACTA alongwith the steps taken towards carrying out legislation against the smugglingof dollars from the country.”
