FATF keeps Pakistan on grey list till February, appreciates its progress

The Financial Action Task Force (FATF) has decided to keep Pakistan on the grey list, for now, however, it appreciated the reforms it carried out.

The FATF President Marcus Pleyer said while talking to the media via video link that,

“The plenary has decided to keep Pakistan in ‘grey list’ until February 2021 despite the country has successfully complied with 21 out of 27 points of action.”

According to the details, Pakistan’s progress was reviewed by the global watchdog on the 27-point action plan for addressing terror financing and anti-money laundering.

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“Pakistan has to do more. To date, Pakistan has made progress across all action plan items and has now largely addressed. As all action plan deadlines have expired, the FATF strongly urges Pakistan to swiftly complete its full action plan by February 2021,” said the President.

When asked about if Pakistan remains on the blacklist or not, Marcus Pleyer said,

“Let me clear, Pakistan is on the gray list, the country has made great progress and the government has cooperated too. We hope by our next deadline they would address the remaining six points of action.”

In the wake of FATF conclusion, Hammad Azhar, the Federal Minister of Industries and Production, took to Twitter and highlighted Pakistan’s achievement.

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“Within a year, we progressed from 5/27 to 21/27 completed items. FATF acknowledged that any blacklisting is off the table now,” he tweeted.

He went on to congratulate the government,

“I congratulate our Federal and Provincial Teams who have worked day and night even during the pandemic to ensure this turnaround.”

Instead of current Action Plan, discussions remained focused on how Pak can be facilitated for our upcoming 2nd evaluation (MER), due mid next year.

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I congratulate our Federal and Provincial Teams who have worked day and night even during the pandemic to ensure this turn around.

— Hammad Azhar (@Hammad_Azhar) October 23, 2020

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