Asia-Pacific Group session review Pakistan progress for FATF grey list exit

ISLAMABAD: A session of the Asia-Pacific Group of Financial Action Task Force (FATF) has been currently underway in Australia to evaluate Pakistan’s progress for exit from the grey list.

Three separate evaluations will determine Pakistan’s possible exit from the grey list of the FATF by October, sources here said.

A meeting of Asia-Pacific Group of the FATF currently being held in Canberra, Australia will conclude on August 23.

The evaluation of the session could have an indirect impact over Pakistan’s position to move out of the grey list of the FATF.

Pakistan being represented in the session by the central bank’s Governor Baqir Reza.

Pakistan has submitted its compliance report to the Asia Pacific Group on 27-point action plan committed with the FATF.

This round of the appraisal will be followed by another round of evaluations by the APG, which will start on September 5 in Bangkok, Thailand.

The Bangkok session evaluation would become a key basis of Pakistan’s final review by the FATF at its plenary and working group meetings scheduled to be held on Oct 13-18 in Paris.

The Financial Action Task Force is an intergovernmental body founded in 1989 on an initiative of the G7 group of countries to develop policies to combat money laundering and terrorism financing.