Three-day FATF virtual meeting will begin today

The three-day virtual meeting of Financial Action Task Force (FATF) will start from Monday (today) and will continue till February 24. The meeting will review Pakistan’s measures against money laundering and terror financing.

The three-day virtual meeting of FATF will be attended by international organizations and member countries, including the IMF and the World Bank.

Pakistan’s name has been included in the Financial Action Task Force’s gray list since 2018.

The FATF meeting will also consider mitigation of threats to the global financial system. The decisions of the virtual meeting will be announced on February 25.

Earlier, Federal Minister for Industries and Production Hamad Azhar has said that Pakistan will soon be out of FATF grey list and a positive message will be sent to the world.

Hammad Azhar had said that the government is achieving two equal conditions of FATF. In the last session, all countries except India praised Pakistan.

He had said that 27 conditions have been fulfilled, the remaining 6 conditions will be completed in February 2021, 14 amendments should be passed by the parliament which was appreciated in the FATF.

The Federal Minister had added that Pakistan’s better performance was acknowledged in the FATF meeting and hoped that it would be removed from the grey list soon.

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