September 26, 2020

US Delegation Briefed About Efforts Made To Exit FATF Grey List

A delegation of the US comprising of senior US government officials met with Dr. Abdul Hafeez Sheikh and other high-ranking government officials and discussed the steps taken by Pakistan in compliance with the FATF conditions.

The US delegation discussed all the steps taken by the government of Pakistan that was agreed upon in the meeting with the FATF in Florida in June 2019. The delegation comprised of Acting Secretary of State for the Bureau of South and Central Asian Affairs Ambassador Alice G. Wells, US Treasury officials Scott Rembrandt, Grant Vickers, David Galbraith and other senior US officials.

In the meeting with the Finance Minister  Dr. Abdul Hafeez Sheikh, the delegation was briefed about the steps taken by the government so far. He said that the government had drafted several policies in the past couple of months to counter money laundering, terror financing, and smuggling activities. Officials said that Pakistan coordinated with several foreign partners so that the new policies of the State Bank of Pakistan (SBP), the Securities and Exchange Commission of Pakistan (SECP), National Counter Terrorism Authority (NACTA) and Federal Board of Revenue (FBR), are according to the international perspective.

The delegation was also informed about the recent bills passed by the National Assembly’s standing committee on finance, regarding the Foreign Exchange Regulations and anti-money laundering law. The delegation commended Pakistan’s efforts and wanted the authorities to produce more tangible results before the FATF meeting in October and stressed over the fact that Pakistan’s efforts against the banned outfits are key to exiting the FATF grey list.

Moreover, the report from this independent assessment will be shared with the Asia Pacific Group (APG) in September, which will later become the basis for the talks between Pakistan and the FATF, scheduled in Paris from 13-18 October, 2019.

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