List of high-risk countries ‘EU removal will ease financial transactions’

ISLAMABAD: Pakistan welcomed the European Union’s decision to remove Pakistan from the list of high-risk countries on Wednesday.

“We welcome the decision by the European Union to remove Pakistan from the list of high-risk countries thus recognising Pakistan’s performance in overcoming technical issues in its Anti-Money Laundering/Countering Financing of Terrorism,” Foreign Office spokesperson Mumtaz Zahra Baloch said in a statement.

This follows UK’s decision to remove Pakistan from a similar list in November 2022, she said.

“The removal from the list will ease financial transactions between entities from Pakistan and the European Union. Pakistan looks forward to building on this development for mutually beneficial economic cooperation with the European Union and sharing its experience in the up-gradation of AML/CFT regimes with partner countries,” she added.

Copyright Business Recorder, 2023