China welcomes FATF decision of removing Pakistan from its grey list

BEIJING: China has welcomed the decision of the Financial Action Task Force to remove Pakistan from its grey list.

During his regular briefing, Chinese Foreign Ministry Spokesperson Wang Wenbin said this shows international support and recognition of Pakistan’s effort to firmly follow its political commitment to improve its Anti-Money Laundering and Anti-Terror Financing system over the past five years despite difficulties.

He said China looks forward to Pakistan’s positive contributions to advancing international counter-terrorism cooperation and protecting the security of the international financial system.

Last week, the Financial Action Task Force (FATF) announced the removal of Pakistan from its grey list, appreciating the country’s efforts in anti-money-laundering and anti-terror financing.

Read more: FATF removes Pakistan from its grey list

The Financial Action Task Force decided by consensus that Pakistan has completed all substantial, technical and procedural requirements of both the 2018 and 2021 Action Plans. As a result, Pakistan had been taken off the list of jurisdictions under increased monitoring, with immediate effect.

This decision was taken during the FATF Plenary meeting held in Paris, France from 20-21 October 2022. Minister of State for Foreign Affairs/Chairperson National Financial Action Task Force Coordination Committee, Ms Hina Rabbani Khar, led the Pakistan delegation to the FATF Plenary.