FATF satisfied over Pakistan’s progress towards action plan

PARIS: The Financial Action Task Force (FATF) on Monday expressed satisfaction over steps taken by Pakistan in line with its action plan, ARY News reported.

The Pakistani delegation headed by Federal Minister for Economic Affairs Hammad Azhar attended a crucial session of the Financial Action Task Force in Paris.

Mr. Azhar told the FATF meeting that Pakistan has made positive progress in 20 out of twenty seven points.

In the session, China, Turkey and Malaysia appreciated Pakistan’s steps taken out in accordance with the FATF’s action plan.

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

The forum will release its final report on October 18.

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.

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.