ISLAMABAD/PARIS – Islamabad is expected to be taken off the ‘increased monitoring list’ also known as the grey list of the global money-laundering watchdog as FATF’s plenary session concludes today in the French capital.
The plenary meeting of the Financial Action Task Force will decide on the removal of the South Asian country from the grey list, as Pakistan faced severe financial blows and difficulties amid dilapidating economy.
In a statement, FATF said the first Plenary under the two-year Singapore Presidency of T. Raja Kumar will take place on October 20-21, which will be attended by delegates representing 206 members of the Global Network and observer organizations, United Nations, World Bank, Interpol, and other officials.
Minister of State for Foreign Affairs Hina Rabbani Khar is in Paris to lead the Pakistani delegation, where she also interacted with French officials.
Earlier this year, the FATF said it was keeping Pakistan on the grey list but hinted at removal after an on-site visit to verify progress.
Last month, Foreign Office revealed that a FATF technical team visited the country and Islamabad was expecting a logical conclusion of the evaluation process.
Pakistan has completed all prerequisites of the FATF action plan, as much sought removal from the grey list will help Islamabad to come clean over deficiencies in the system to avert money laundering and terror financing.
Pakistan was placed on the grey list in June 2018 for deficiencies in its system to avert money laundering and terror financing.
Pakistani currency remains momentum against US dollar in the open market on February 28, 2024 (Wednesday).
In the open market, the US dollar moves up and currently hovers at 282 for buying and 282.25 for selling.
Euro currently stands at 303.1 for buying and 306.1 for selling while British Pound rate stands at 351.6 for buying, and 355.1 for selling.
UAE Dirham AED hovers at 76.1 whereas the Saudi Riyal saw slight increase, with new rates at 74.25.
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