*PARIS: The Financial Action Task Force (FATF) on Thursday decided tokeep Pakistan on its ‘grey list’.*
According to details, Pakistan’s interim Finance Minister Shamshad Akhtarpresented a strong case in Paris where the Financial Action Task Force ismeeting.link>link>link#_>link>
While pleading Pakistan’s case to remove its name from FATF grey list,the minister apprised the anti-terror financing body of measures thatcountry has taken to combat money laundering, terrorist financing and toeliminate the terrorism from its soil.
The US motion, to have Pakistan added to the “grey list” of countries wasreportedly backed by Britain, France and Germany.
Talking to media, Pakistan’s Interim Interior Minister Muhammad Azam saidthat the FATF is under immense pressure of US and India, adding thatthese countries also pressurized even China and Saudi Arabia, Pakistan’sclosest allies, to withdraw their support.link>link>
As part of efforts to implement the FATF counter-terrorist financingoperational plan adopted in February this year, the Securities and ExchangeCommission of Pakistan (SECP), on June 20, issued the Anti Money LaunderingLaw.
Last week, the interim finance minister said that the ministry has improvedinstitutional mechanisms for handling anti-money laundering and counteringfinancing terrorism issues. Coordination between the State Bank, Bankinginstitutions and law enforcement agencies has also been strengthened tocurb money laundering and terror financing, she added.
The FATF is an inter-governmental body established in 1989 to combat moneylaundering, terrorist financing and other related threats to the integrityof the international financial system.
Pakistan was previously on the grey list from 2012 to 2015.