ISLAMABAD – Pakistan seek 12 votes out of 39 votes to exit from theFinancial Action Task Force greylist.
The five-day session of the Financial Action Task Force (FATF) willcommence today (Sunday) in Paris, where Pakistan’s performance on theimplementation of the global financing watchdog’s 27 action points to curbterror financing and money laundering would be reviewed.
Analysts expect Pakistan to either exit the grey list soon after winning a“largely-compliant” rating from the FATF or might get more time from thewatchdog to ensure full compliance.
Pakistan will be judged by an FATF plenary meeting in the meeting on thebasis of the joint group’s report, for a possible exit from the grey listor at least avoiding the blacklist.
According to media reports, Pakistan needs only 12 out of 39 votes to exitthe grey list.
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Pakistan has already gained full support from China, Turkey and Malaysia,and aims to obtain 12 votes with escalated diplomatic campaign. Pakistanhas ensured significant implementation on most of the recommendations andtook necessary actions.
On Jan 28, the State Bank of Pakistan stated that Pakistan had madesignificant progress to get off the grey list while the central bank hadbeen making all-out efforts to curb money laundering and terror financing.
While announcing the monetary policy with unchanged interest rate of13.25pc, SBP Governor Dr Reza Baqir had said that the last two [FATF]reviews in May and September showed that Pakistan had made significantprogress in most of the 27 points raised by the FATF.
