PARIS: The Financial Action Task Force (FATF) has kept Pakistan in its”grey list” while acknowledginglinkitsefforts to comply with 21 out of 27 conditions in the action planlinkby the watchdog.
The decision to retain Pakistan on the grey list came after the EuropeanUnion expressed dissatisfaction with Pakistan’s progress, Geo News haslearnt.
*Read more: Pakistan to remain on FATF’s grey list for nowlink*
Just before FATF’s plenary meeting from October 21-23, the EU had expresseddissatisfaction with Pakistan’s progress on FATF compliance during its laststrategic dialogue with Pakistan on October 7.
Not only that, it had opposed Pakistan’s exit from the grey list.
Important member states of the EU alliance, such as Belgium, Germany, UKand the Netherlands, took a hard stance against Pakistan, which reflects inthe policy of the Union.
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The EU reviewed the progress made by Pakistan on the FATF’s recommendationsand urged the country to fight terrorism, money laundering and financialterrorism — areas which comprise the remaining six conditions the countrymust comply with.
Speaking to this correspondent, an EU official said that the Union does notconsider Pakistan to have fulfilled the requirements of the FATF.
In the political dialogue on October 7, the EU had said Pakistan has tomake important efforts to fulfil remaining objectives.
In this regard, the EU encouraged Pakistan to double its efforts toimplement the action plan and continue decisive action against terrorismfinancing and money laundering.
