Who opposed Pakistan exclusion from the FATF greylist?
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PARIS: The Financial Action Task Force (FATF) has kept Pakistan in its "grey list" while acknowledging link its efforts to comply with 21 out of 27 conditions in the action plan link by the watchdog.
The decision to retain Pakistan on the grey list came after the European Union expressed dissatisfaction with Pakistan's progress, Geo News has learnt.
*Read more: Pakistan to remain on FATF's grey list for now link*
Just before FATF's plenary meeting from October 21-23, the EU had expressed dissatisfaction with Pakistan's progress on FATF compliance during its last strategic 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, UK and the Netherlands, took a hard stance against Pakistan, which reflects in the policy of the Union.
The EU reviewed the progress made by Pakistan on the FATF's recommendations and urged the country to fight terrorism, money laundering and financial terrorism — areas which comprise the remaining six conditions the country must comply with.
Speaking to this correspondent, an EU official said that the Union does not consider Pakistan to have fulfilled the requirements of the FATF.
In the political dialogue on October 7, the EU had said Pakistan has to make important efforts to fulfil remaining objectives.
In this regard, the EU encouraged Pakistan to double its efforts to implement the action plan and continue decisive action against terrorism financing and money laundering.
