FATF to discuss Pakistan Case today

Syed Umarullah HussainiWeb Editor

23rd Oct, 2020. 09:34 am

Pakistan’s case at the Financial Action Task Force (FATF) meeting will be discussed today in the French Capital.

According to the details, the plenary will decide Pakistan’s fate whether to keep the country on the grey list for another extended period or to remove it.

The meeting was scheduled to be held in June, however, it was postponed due to the novel coronavirus pandemic.

In February this year, the FATF plenary granted Pakistan a grace period of four months to complete its 27-point action plan.

Pakistani authorities are hopeful of a positive outcome after the country enacted at least 15 pieces of legislation, many of them through a joint sitting of Parliament, to fulfill the requirements set by the international watchdog.

They are confident that there are minimal chances of Islamabad being placed on the blacklist.

According to a FATF announcement, the first plenary under the two-year FATF Presidency of Germany’s Dr Marcus Pleyer started virtually due to the on-going health crisis.

No Saudi Anti Vote Against Pakistan

On Thursday, Pakistan categorically rejected a false media report regarding Saudi Arabia’s role in the assessment of Pakistan’s FATF action plan.

While addressing a weekly press briefing Foreign Office Spokesperson Zahid Hafeez Chaudhry said Pakistan and Saudi Arabia enjoy strong fraternal ties and the two countries have always cooperated with each other on all matters of bilateral, regional and international importance.

The Spokesperson said Pakistan greatly values its relations with brotherly Saudi Arabia and firmly rejects such malicious propaganda.

He said FATF will announce its assessment of Pakistan’s progress on the Action Plan and the future course of action after the conclusion of its Plenary Meeting.

Overall Discussion At FATF

The delegates at the meeting during three-day sessions, discuss a range of issues, including the impact of the COVID-19 pandemic on countries’ ability to detect, prevent, and investigate money laundering and terrorist financing. Delegates will also review the progress made by some jurisdictions identified as presenting a risk to the global financial system.

Adsence 300X250