ISLAMABAD/PARIS – Islamabad is expected to be taken off the ‘increasedmonitoring list’ also known as the grey list of the global money-launderingwatchdog as FATF’s plenary session concludes today in the French capital.
The plenary meeting of the Financial Action Task Force will decide on theremoval of the South Asian country from the grey list, as Pakistan facedsevere financial blows and difficulties amid dilapidating economy.
In a statement, FATF said the first Plenary under the two-year SingaporePresidency of T. Raja Kumar will take place on October 20-21, which will beattended by delegates representing 206 members of the Global Network andobserver organizations, United Nations, World Bank, Interpol, and otherofficials.
Minister of State for Foreign Affairs Hina Rabbani Khar is in Paris to leadthe Pakistani delegation, where she also interacted with French officials.
Earlier this year, the FATF said it was keeping Pakistan on the grey listbut hinted at removal after an on-site visit to verify progress.
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Last month, Foreign Office revealed that a FATF technical team visited thecountry and Islamabad was expecting a logical conclusion of the evaluationprocess.
Pakistan has completed all prerequisites of the FATF action plan, as muchsought removal from the grey list will help Islamabad to come clean overdeficiencies in the system to avert money laundering and terror financing.
