*ISLAMABAD – **Financial Action Task Force plenary session takes finaldecision over Pakistan greylist.*
*Pakistan will be kept in the grey list. *FATF has decided to give timeuntil June 2020 and September 2020 to achieve the 13 targets of performanceand complete them respectively.
A statement of the dialogues will be issued on Friday. In June 2020,Pakistan’s performance will be re-evaluated in June 2020. According toreports, Indian attempts were foiled after no country supported India’sattempt to blacklist Pakistan.
The FATF members, according to sources, praised Pakistan for takingeffective steps, countering money laundering, and terror financing. TheFATF expressed satisfaction with Pakistan’s performance report. Pakistanhas fully implemented 14 out of 27 points of FATF recommendations.
Meanwhile, the FATF members have called for more steps to be taken to getPakistan out off the grey list. Pakistan has made effective legislation toexit the gray list. The FATF has said that Pakistan must ensureimplementation of money laundering laws.
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The Pakistani delegation is being led by Federal Minister for EconomicAffairs Hammad Azhar who is also accompanied by officials of the Ministryof Finance, the State Bank, and Federal Board of Revenue (FBR).
More than 800 representatives from 205 countries and jurisdictions aroundthe world, the IMF, UN, World Bank and other organizations areparticipating in these meetings.
