ISLAMABAD – With Pakistan’s exit from the Financial Action Task Force list,the United Kingdom has removed South Asian country from its list of‘High-Risk Third Countries’.
Foreign Minister Bilawal Bhutto-Zardari shared the good news on Twitter bysharing a picture of the official document. FM mentioned that the decisionwas taken on Islamabad’s early completion of the action plan of anti-terrorwatchdog.
The official document shared by Mr Bhutto reads “His Majesty’s Treasuryissued an amendment to the UK’s ‘High-Risk Third Countries’ list on 14November 2022, through a Statuary Instrument. The amendment removesPakistan from the list in accordance with the decision taken by theFinancial Action Task Force (FATF) on 21 October 2022.”
Some good news. The United Kingdom has officially removed Pakistan from itslist of ‘High Risk Third Countries’ following our early completion of FATFaction plans. ???????? ???? ???????? pic.twitter.com/clcGHy5771link— BilawalBhuttoZardari (@BBhuttoZardari) November 14, 2022link
It further reads that the Foreign, Commonwealth and Development Office(FCDO) recognises the progress South Asian country has made to improvemoney laundering and terrorist financing controls.
Pakistan removed from global ‘terrorism’ financing list
Earlier in October, the Financial Action Task Force (FATF) freed Pakistanfrom its “grey list” as the South Asian country has successfullyimplemented an action plan to strengthen its laws to curb money launderingand terror financing.
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FATF President Raja Kumar announced the decision in his press conference atthe conclusion of its plenary, stating that Pakistan had been on the “greylist” since 2018.
“It has two concurrent action plans. After a lot of work by Pakistaniauthorities, they have largely addressed all of the action plan items.”
Kumar said that that the FATF task force had conducted an onsite visit atthe end of August. “The onsite team verified that there is a high level ofcommitment from the Pakistani leadership, sustainability of reforms andcommitment to make improvements in the future,” he added.
“As a result of these action plans, Pakistan has made significantimprovements to strengthen the effectiveness of this framework forcombating terrorism financing.”
