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FATF to discuss removal of Pakistan’s name from grey list today

ISLAMABAD: The Financial Action Task Force (FATF) will discuss the issue of removal of Pakistan’s name from grey list in its plenary session in Paris today, ARY News reported on Monday.

The formal talks between Pakistan and the FATF will begin in Paris today.

A Pakistani delegation headed by Federal Minister for Economic Affairs Hammad Azhar has been in France to attend to attend a crucial session of the Financial Action Task Force in Paris.

The delegation led by Federal Minister for Economic Affairs Hammad Azhar also includes Additional Secretary Finance, along with the representatives of National Counter Terrorism Authority (NACTA), Federal Investigation Agency (FIA), Federal Board of Revenue (FBR) and Securities and Exchange Commission of Pakistan (SECP).

The FATF meeting will discuss steps taken by Pakistan to curb terrorism-financing and money laundering till April 2019.

The session will review the fresh National Risk Assessment produced in the session for enforcement of the FATF action plan.

The technical committee of Pakistan before the talks attended the informal session of the FATF on Sunday.

Pakistan had earlier dispatched the fresh national risk assessment study to FATF, comprised of 150 pages, which was prepared with the collaboration of the United Nations.

The study report made the risk assessment in context of three key aspects including determining the risks of terror financing.

The plenary session of the FATF will continue until Oct. 18.

Earlier in September, Pakistan had submitted its report to the FATF, on moves taken by it to combat money laundering and terror financing.

It may be noted that, this year, Pakistan has made significant progress in its systems to fight money laundering and terror financing as per international standards.

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