September 28, 2020

FATF to keep Pakistan in Grey List until February 2020: Unofficial Reports

The officials of the Financial Action Task Force (FATF) and Pakistan were in Paris for a two-day meeting regarding the removal of Pakistan from the grey list of the FATF. According to unofficial reports, the FTAF has decided to keep Pakistan in the Grey List for a further 4 months, until February 18.

According to unofficial reports, the FATF, although commended Pakistan’s efforts on certain measures, decided that Pakistan needed to do more regarding the Anti Money Laundering (AML) and Countering Financing of Terrorism (CFT).

The FATF officials would officially announce their decision on October 18 and the final decision regarding the blacklisting of Pakistan and removing its name from the Grey List would be taken on February 2020. India had requested the commission to put Pakistan’s name in the Black List, arguing that the government had allowed the withdrawal of funds from the frozen accounts of Hafiz Saeed. However, Pakistan’s efforts were commended by the friendly nations of Malaysia, Turkey and China. According to the FATF charter, a country needs support of at least three countries to avoid being blacklisted.

Pakistan’s head of the delegation Hammad  Azhar refused to comment on the reports and said that nothing could be said before October 18 and said that these reports are not true.

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