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Pakistan completed all items in FATF action plan: sources

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Web Desk
Web Desk
News Stories Posted by ARY News Digital Team

ISLAMABAD: Pakistan has completed all items in the action plan given by the Financial Action Task Force (FATF) and the matter will be reviewed in the next plenary session, ARY News reported on Sunday citing sources.

According to Foreign Office (FO) sources, the Ministry of Foreign Affairs (MoFA) will oversee the matters related to the next meeting of the Financial Action Task Force. The Foreign Ministry has decided to adopt a cautious strategy in this regard.

Informed sources have claimed that the four-day meeting of the financial watchdog will be held in Berlin from June 13 to 17. The plenary session will consider Pakistan’s review on June 15 and 16.

State Minister for Foreign Affairs Hina Rabbani Khar will represent Pakistan in the meeting, set to take place in Berlin. Sources further said that Pakistan is likely to get some good news as the country has met all the targets to get out of the task force’s grey list.

Pakistan has been on the grey list for deficiencies in its counter-terror financing and anti-money laundering regimes since June 2018.

It is pertinent to mention here that the financial watchdog, a Paris-based global money laundering and terrorist financing watchdog,  had retained Pakistan on its grey list till June 2022.

In the last plenary session, the FATF announced that Pakistan made significant progress and it has largely addressed 26 out of 27 items on the action plan it first committed to in June 2018.

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