KARACHI: The Financial Action Task Force (FATF) has maintained the status of Pakistan and kept it in the grey list, despite completion of 26 of the 27 action items assigned to the country.

This is the third extension given to Pakistan by the FATF plenary meeting delegates, representing 205 members of the Global Network and observer organisations, including the International Monetary Fund, the United Nations and the Egmont Group of Financial Intelligence Units.

During the five days meeting, starting from June 21, 2021, the delegates discussed key issues to strengthen global action against the financial flows that fuel crime and terrorism.

The meeting recognised Pakistan’s continued political commitment, which led to significant progress across a comprehensive counter-financing terrorism action plan and encouraged the country to continue to make progress to address the last item as soon as possible.

Pakistan has made significant progress to complete two of the three remaining action items since February 2021. The country has been on the FATF’s monitoring list since 2018 with the measures to complete the programme, including identifying and supervising terror financing risks and boosting controls on illicit currency movement.