LAHORE – Pakistan is expected to finally exit the grey list of the Financial Action Task Force (FATF), a global money laundering and terrorist financing watchdog, after languishing in the infamous category for more than four years.
The two-day plenary session of FATF will be held under the Presidency of T. Raja Kumar in the French capital today where officials will discuss removing the South Asian country’s name from increased monitoring list – also known as the grey list.
After the discussions, FATF president Raja Kumar will address a news conference in which he will announce Pakistan’s removal from its infamous grey list.
Minister of State for Foreign Affairs Hina Rabbani Khar is also in Paris to attend a crucial meeting of the FATF.
Pakistan earlier complied with the action plan provided by FATF, also known by its French name, Groupe d’action financière.
Meanwhile, a high-level team of an international organisation visited Pakistan in August this year and verified steps taken by the country, however, the visit was kept under wraps. The delegation further reviewed the sustainability of government initiatives and their implementation.
The removal from the grey list will help Islamabad to come clean over deficiencies in the system to avert money laundering and terror financing.
Indian FM admits New Delhi s role in keeping Pakistan on FATF grey list
In the last FATF meeting, officials retained country’s name in its grey list and pushed Islamabad to do more against terror groups.
Pakistan was placed on the grey list in June 2018 for deficiencies in its system to avert money laundering and terror financing.
