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Pakistan

FATF grey list: Pakistan fate to be decided at February plenary

 The FATF's five-day plenary session begins in Paris from February 16. On a back of a strong diplomatic campai
10 Feb 2020
  •  The FATF's five-day plenary session begins in Paris from February 16.
  • On a back of a strong diplomatic campaign, Pakistan is optimistic to garner support from more countries, as the country needs 12 out of 39 votes to exit the grey list and enter the white list.

Pakistan's name should be retained or removed from the Financial Action Task Force (FATF) grey list, the decision will be made this month. As the intergovernmental organization, reviews Pakistan's measures at the meeting that begins on February 16.

The FATF's five-day plenary session begins in Paris from February 16. As per details, it will be decided at the meeting whether Pakistan will remain on the grey list or will leave exit it.

Reports indicate that despite the opposition by the rival neighbor India during the FATF meeting in Beijing last year, the United States, the European Union, has supported Pakistan for its measures taken to counter anti-money laundering and terror financing.

Meanwhile, Pakistan already enjoys a strong support from neighboring China, and friendly countries namely Turkey and Malaysia. On a back of a strong diplomatic campaign, Pakistan is optimistic to garner support from more countries, as the country needs 12 out of 39 votes to exit the grey list and enter the white list.

Pakistan was cleared of 14 points out of 27 at the Asia Pacific Group meeting held in Beijing, China from January 21 to January 23. The Pakistani delegation lead by Federal Minister for Economic Affairs Hammad Azhar succeeded in convincing FATF that the bank accounts of nine terrorist organizations, including several Taliban leaders have been frozen.

FATF added Pakistan to the grey list in June 2018. After that, Pakistan ensured implementation of most points and action plans.