Pakistan out of grey list: FATF

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MG News | October 21, 2022 at 08:02 PM GMT+05:00

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October 21, 2022 (MLN): The Financial Action Task Force (FATF) has finally removed Pakistan from its list of jurisdictions under increased monitoring list however the country will remain on the monitoring list.

Finance Minister Ishaq Dar said that "Heartiest congratulations to the Nation on removal of Pakistan’s name today from the FATF’s “grey list”. Efforts of the civil-military team under the leadership of PM @CMShehbaz in achieving this goal are highly commendable. Pakistan Zindabad!"

The FATF removed two members from the jurisdictions under increased monitoring list including Nicaragua and Pakistan, said the FATF Presidnet T. Raja Kumar in an online briefing.

He lauded the efforts taken by the authorities in Pakistan and acknowledged their efforts to combat money laundering and terror financing in the country.

He said that Pakistan has complied with all of the actions proposed by the FATF. He also added that the on-site team visit made by the FATF team found that the efforts taken by Pakistan were sustainable and strengthened risk-based supervision of financial and non-financial institutions. 

Pakistan will continue to work with APG to further improve its AML/CFT system.

Pakistan has been on the FATF grey list since 2018. 

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