Pakistan out of FATF grey list: Ishaq Dar congratulates nation

ISLAMABAD: Finance Minister Ishaq Dar has congratulated the nation after the Financial Action Task Force (FATF) removed Pakistan from its grey list, ARY News reported on Friday.

Ishaq Dar said in a Twitter message, “Heartiest congratulations to the Nation on removal of Pakistan’s name today from the FATF’s “grey list”.

The finance minister added, ‘efforts of the civil-military team under the leadership of PM Shehbaz Sharif in achieving this goal are highly commendable. Pakistan Zindabad”

Heartiest congratulations to the Nation on removal of Pakistan’s name today from the FATF’s “grey list”.
Efforts of the civil-military team under the leadership of PM @CMShehbaz in achieving this goal are highly commendable.
Pakistan Zindabad 🇵🇰

— Ishaq Dar (@MIshaqDar50) October 21, 2022

Prior to this message, PM Shehbaz Sharif tweeted, “Pakistan exiting the FATF grey list is a vindication of our determined and sustained efforts over the years. I would like to congratulate our civil & military leadership as well as all institutions whose hard work led to today’s success. Aap sab ko bohat bohat Mubarak :)”

Pakistan 🇵🇰 exiting the FATF grey list is a vindication of our determined and sustained efforts over the years. I would like to congratulate our civil & military leadership as well as all institutions whose hard work led to today’s success. Aap sab ko bohat bohat Mubarak 🙂

— Shehbaz Sharif (@CMShehbaz) October 21, 2022

“I would particularly commend the role & efforts of Foreign Minister Bilawal Bhutto, Army Chief General Qamar Javed Bajwa and their teams & all  political parties for putting up a united front to get Pakistan out of the grey list. Alhumdulillah!” he added.

I would particularly commend the role & efforts of Foreign Minister Bilawal Bhutto, Army Chief General Qamar Javed Bajwa and their teams & all political parties for putting up a united front to get Pakistan out of the grey list. Alhumdulillah! https://t.co/LkX5tupMQe

— Shehbaz Sharif (@CMShehbaz) October 21, 2022

Pakistan out of FATF grey list after four years

The Financial Action Task Force (FATF) has announced the removal of Pakistan from its grey list, appreciating the country’s efforts in anti-money laundering and anti-terror financing.

The Financial Action Task Force has decided by consensus that Pakistan has completed all substantial, technical and procedural requirements of both the 2018 and 2021 Action Plans. As a result, Pakistan has been taken off the list of jurisdictions under increased monitoring, with immediate effect.

This decision was taken during the FATF Plenary meeting held in Paris, France from 20-21 October 2022. Minister of State for Foreign Affairs/Chairperson National FATF Coordination Committee, Ms Hina Rabbani Khar, led the Pakistan delegation to the FATF Plenary.

Pakistan has made enormous progress in the Anti Money Laundering and Countering Financing of Terrorism (AML/CFT) domain over the course of fulfilling the requirements of both Action Plans. Despite many challenges, including the Covid-19 pandemic, Pakistan continued the reform trajectory and sustained the high-level political commitment to aligning its domestic AML/CFT regime with international best practices.

Achieving FATF targets was a whole-of-nation endeavour. Multiple ministries, departments and agencies, both at the Federal and Provincial levels, contributed to achieving this national objective. The engagement with FATF has led to strategic improvements in Pakistan’s laws and procedures, making its domestic AML/CFT regime more resilient to cope with current and future challenges.