Sunday, December 5, 2021

FATF update: ‘Pakistan getting closer to consensus numbers in spite of challenges’

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ISLAMABAD: Federal Minister Hammad Azhar said on Thursday that Pakistan is getting closer to the consensus number in spite of challenges, ARY News reported.

Hammad Azhar said in a Twitter message that ‘good news’ in terms of Financial Action Task Force (FATF) related matters for Pakistan regarding its progress on the action plans.

He detailed that Pakistan has addressed four out of 7 items within one cycle for the money laundering action plan. He termed it ‘progress unprecedented in the FATF history.”

Regarding the action plan to curb the terror-financing, Pakistan has already completed 26 out of 27 items and the majority of the countries believed that Islamabad has completed the action plan.

Hammad Azhar said, “Now only some countries do not agree with the majority on progress made by Pakistan on the TF action plan. We are getting closer to consensus numbers in spite of “challenges”.”

He said, “Our technical stance will be vindicated soon Insha-Allah.”

Global terror financing watchdog Financial Action Task Force (FATF) retained Pakistan on its grey list.

In a briefing, FATF President Marcus Pleyer said that Pakistan has “addressed or largely addressed” 30 of the 34 items of the FATF action plan to curb money laundering and terror financing.

“Pakistan is making good progress and only four action items remain to be completed,” the FATF president said.

“I thank the Pakistani government for their continued strong commitment to this process,” he added.

Speaking about other decisions taken in today’s meeting, the FATF president said that two countries, Mauritius and Botswana, have been removed from the grey list. Three countries, on the other hand, are coming onto the list — Jordan, Turkey and Mali.

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