Pakistan meets all of the prescribed FATF requirements


There is good news for business sector of Pakistan as the country took all essential actions advised by FATF or Financial Action Task Force.

Although Pakistan met all FATF requirements but India can spoil the case and may make the case harder for 8 prescribed organizations.

FATF plenary meetings will take place from coming Sunday to February 22 in France. However, they are working to combat money laundering and terrorism financing would hold the first review of Pakistan after placing the country on its grey list with effect from June 2018.

Pakistan had been given the 27-point action plan that the country will implement till September this year. Country’s case will be presented by the Asia Pacific Group that will report progress on 5 out of 27 agreed actions, according to the Ministry of Finance officials. The authorities are hopeful that Pakistan will be able to pass through the first milestone.

A Pakistani delegation consisting officials from the Foreign Affairs and Financial Monitoring Unit and Ministry of Finance will leave for France at the weekend. FATF placed Pakistan on the grey list of countries that have deficient anti-money laundering and terrorism financing laws.


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