AIRLINK 75.41 Increased By ▲ 1.71 (2.32%)
BOP 4.89 Decreased By ▼ -0.01 (-0.2%)
CNERGY 4.43 Decreased By ▼ -0.09 (-1.99%)
DFML 43.44 Decreased By ▼ -1.44 (-3.21%)
DGKC 84.72 Decreased By ▼ -0.78 (-0.91%)
FCCL 21.30 Decreased By ▼ -0.10 (-0.47%)
FFBL 32.40 Decreased By ▼ -0.11 (-0.34%)
FFL 9.56 Decreased By ▼ -0.03 (-0.31%)
GGL 10.10 Decreased By ▼ -0.17 (-1.66%)
HASCOL 6.98 Decreased By ▼ -0.15 (-2.1%)
HBL 114.59 Decreased By ▼ -0.11 (-0.1%)
HUBC 139.11 Increased By ▲ 0.01 (0.01%)
HUMNL 12.18 Decreased By ▼ -0.24 (-1.93%)
KEL 4.97 Decreased By ▼ -0.06 (-1.19%)
KOSM 4.40 Decreased By ▼ -0.05 (-1.12%)
MLCF 37.25 Decreased By ▼ -0.35 (-0.93%)
OGDC 134.10 Decreased By ▼ -2.70 (-1.97%)
PAEL 25.30 Decreased By ▼ -0.09 (-0.35%)
PIBTL 6.64 Decreased By ▼ -0.05 (-0.75%)
PPL 119.33 Decreased By ▼ -1.67 (-1.38%)
PRL 26.36 Decreased By ▼ -0.23 (-0.86%)
PTC 13.79 Decreased By ▼ -0.31 (-2.2%)
SEARL 56.99 Decreased By ▼ -0.31 (-0.54%)
SNGP 66.90 Decreased By ▼ -1.10 (-1.62%)
SSGC 10.31 Decreased By ▼ -0.11 (-1.06%)
TELE 8.34 Decreased By ▼ -0.11 (-1.3%)
TPLP 10.88 Decreased By ▼ -0.10 (-0.91%)
TRG 62.89 Decreased By ▼ -0.45 (-0.71%)
UNITY 27.00 Decreased By ▼ -0.05 (-0.18%)
WTL 1.36 Decreased By ▼ -0.02 (-1.45%)
BR100 7,915 Decreased By -25.6 (-0.32%)
BR30 25,405 Decreased By -243.1 (-0.95%)
KSE100 75,360 Decreased By -157.7 (-0.21%)
KSE30 24,195 Decreased By -83 (-0.34%)

PARIS: Global anti-money laundering watchdog the Financial Action Task Force (FATF) said Friday that it had removed the United Arab Emirates from its "grey list" of countries subject to increased monitoring, while Kenya and Namibia were added.

Countries on the grey list have "strategic deficiencies" in their efforts to counter money laundering and terrorist financing, but are cooperating with the FATF to correct the problems and are subject to increased monitoring.

In addition to the UAE, Barbados, Gibraltar and Uganda were removed from the grey list.

UAE’s Fujairah January marine bunker sales rise to five-month highs

A total of 21 nations are currently on the list.

More than 200 countries and jurisdictions have pledged to implement the recommendations of the FATF.

The FATF also has a "black list" of nations which are considered high-risk jurisdictions.

Countries are urged to apply countermeasures against Iran and North Korea to protect against money laundering and the financing of terrorism and weapons proliferation.

Meanwhile, countries are requested to apply enhanced due diligence concerning Myanmar.

The FATF also repeated its condemnation of Russia for its invasion of Ukraine two years ago.

It suspended Russia's participation in the body last year and said its members are taking proactive measures to protect the global financial system given Moscow's growing financial links to countries subject to FATF countermeasures.

Comments

200 characters
KhanRA Feb 24, 2024 05:52am
Remember, when we would blame being on the gray list for all of our economic problems? Newsflash: this list has very little impact on any economy. Pak economy was weak for a number of other reason
thumb_up Recommended (0) reply Reply