FATF declares Pakistan’s progress towards action plan satisfactory

FLORIDA: Financial Action Task Force (FATF) on Friday declared Pakistan’s progress towards implementation of the action plan satisfactory, ARY News reported.

According to the to the details, the plenary meeting the FATF took place in Orlando today to review the compliance of a number of countries, including Pakistan with the international standards on Anti-Money Laundering and Counter Financing of Terrorism (AML-CFT).

FATF reviewed progress made by Pakistan towards the implementation of the action plan. It acknowledged the steps taken by Pakistan to improve its AML-CFT regime and highlighted the need for further actions for implementing the Action Plan.

FATF will undertake the next review of Pakistan’s Progress in October 2019. On the occasion, the officials of Pakistan government of reiterated its commitment to take all necessary measures to ensure completion of the action plan in a timely manner.

Pakistan was placed by FATF in its compliance document in view of an action plan agreed with Pakistan in June 2018 to strengthen its AML-CFT Regime.

Read More: Pakistan can no longer be blacklisted by FATF: Ch Sarwar

Earlier on June 18, Punjab Governor Ch Muhammad Sarwar had said that outstanding diplomatic skills of the Prime Minister Imran Khan had saved Pakistan from being blacklisted by the Financial Action Task Force (FATF),.

The PTI leader had took to twitter saying, “Pakistan can no longer be blacklisted in FATF due to outstanding diplomatic skills of PM Khan. Malaysia has assured its support due to PM IK exemplary diplomacy.”

Pakistan had taken aggressive steps over the last two months in terms of a regulatory and monitoring mechanism to meet the FATF requirements.