BERLIN: Pakistan hopes of receiving off grey list of Financial Action Task Force on Money Laundering (FATF) government official said that this time “looks like things are going the Pakistani way”. way”, a BBC in Urdu report said on Friday.
Four-day plenary session session of The FATF should end today, after which global anti-money laundering the watchdog will announce its decision about which countries will remain in in list and who were removed.
“While there are reports that this time decision I’ll go in goodwill of Pakistan,” said the spokesman for federal government told the publication, adding that agreement and satisfaction of Another countries in plenary session also significant in in this respect.
official said that even if Pakistan removed from listit can take seven to eight months for cases to be settled. “After being removed from the FATF gray list team will visit Pakistan for on-site inspection.
Pakistani delegation at the conference in Berlin, headed by the Minister of State for Ministry of Foreign Affairs Hina Rabbani Khar, who is also chair of Coordinating Committee of the National Financial Action Task Force on Money Laundering (FATF).
According to the ministry of Foreign Affairs, during the Pakistan meeting progress under the FATF Action Plans for 2018 and 2021. Plenary session review recommendations of FATF International Cooperation Review Group (ICRG).
minister held meetings with new and outgoing FATF presidents, executive secretary of FATF and chapters of delegations of FATF member states inform them of huge progress made Pakistan for completing both FATF Action Plans.
It is pertinent to note that Pakistan was added to list in 2018 and received list of actions to be taken. AT review held in March 2022, FATF retains country on in the list saying Pakistan has “made significant progress in implementation of his recommendations.
Pakistan has already completed 26 of 27 recommendations made FATF in 2018 and six of seven points provided by the Asia Pacific Group (APG) in 2021 ahead of time.
The two remaining recommendations include the introduction of legal action against terrorist organizations and crackdowns against money laundering.
In the meantime, Pakistan has made massive diplomatic efforts to get off gray color FATF listaccording to official sources.
Pakistan needs votes of Turkey, China and Malaysia to get off in list and all three countries assured Pakistani authorities of full support for goal.
Pakistan implemented almost all points of FATF Action Plan except for fines, and Pakistan made prosecutions and all related legal amendments in in this respect.
