- FATF concluded its five-day virtual meet in Paris
- Pakistan retained in the FATF grey list
- FATF stated that Islamabad failed to comply with the action plan drawn by the organization
Islamabad: In a setback to Pakistan, the Financial Action Task Force (FATF), a global terror financing watchdog, on Friday retained the country on its “grey list”.
This means that Pakistan is not eligible to access finances in the form of investments and aid from International bodies including International Monetary Fund.
It’s been a long since Pakistan hasn’t been able to shed its name off the grey list. The country’s capital fails to shield terror perpetrators and implement the FATF action plan.
As the virtual sessions of FATF concluded in Paris, it is reported that the Asia Pacific Group’s report on Pakistan’s compliance with the watchdog’s prescribed action items was reviewed.
Asia Pacific Group’s report on Pakistan’s compliance with the watchdog’s prescribed action items.
Early this month, a regional affiliate of the FATF retained Pakistan on the ”Enhanced Follow-up” list and asked the country to strengthen its implementation of anti-money laundering and combating terror financing measures.
There have been three since Islamabad was put on the anti-terror financing body’s grey list.
The FATF, in February this year, had retained Pakistan on its “grey list” till June after concluding that Islamabad failed to address its strategically important deficiencies, to fully implement the 27 point action plan that the organization had drawn up for Pakistan.