September 28, 2020

Pakistan Lobbies To Gain Support Of Friendly Nations Ahead Of The FATF Meeting

Ahead of the upcoming meeting of Pakistan with the FATF, scheduled on October 13 in Paris, Pakistan’s top officials have conducted several visits to friendly countries and have gained the support of three friendly nations. Pakistan would have the support of China, Malaysia and Turkey in the upcoming meeting of the FATFOfficials have said that with the support of the friendly countries, Pakistan cannot be put on the blacklist. According to the regulations of the FATF, a country requires support of at least three countries to avoid being blacklisted.

Pakistan’s delegation, headed by the Financial Monitoring Unit Director General Mansoor Hassan Siddiqui, would meet the FATF officials in the upcoming meeting. They have already reached China for negotiations and from there, they would move on to Paris for the meeting. Economic Affairs Minister Hammad Azhar would leave for Paris on Wednesday to join the team. The Minister will also meet the officials of the World Bank and the International Monetary Fund after the FATF meeting.

The Asia Pacific Group of the FATF had just released a report regarding the compliance of Pakistan and had found Pakistan either Largely Compliant (LC) or Partially Compliant (PC) on 36 points out of 40. Pakistan was found to be non-compliant on the rest of the 4 points. The APG report would play a key role in the upcoming meeting with the FATF. Pakistan’s officials are positive that the report was overall a positive sign for Pakistan and the country would be able to avoid being blacklisted and would probably get out of the FATF Grey List as well.

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