PAK Exits ‘Grey List’ FATF After Four Years

PAKISTAN: Pakistan after a period of four years was removed from the grey list of the global watchdog for financing terrorism and money laundering.

The watchdog, Financial Action Task Force (FATF), said Pakistan has strengthened its anti-money laundering setup and worked on combating terror financing, besides addressing technical deficiencies.

As long as the nation ranked under the ‘grey list’ it was bereaved from receiving aid from the International Monetary Fund (IMF), World Bank, Asian Development Bank (ADB), and the European Union.

Earlier in the day, Ex-PM Imran Khan was disqualified from holding political office for five years on charges that he misled them about gifts he received from foreign leaders while in power.

The verdict means that Khan would cease to be a member of the country’s Legislative Assembly and will not be able to contest elections for five years. Khan, who is the chairperson of Pakistan Tehreek-e-Insaf party, will soon be facing criminal proceedings for an improper declaration of gifts he received and proceeds from their alleged sale.

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