Chances of Pakistan’s getting off FATF grey list bright: sources

PARIS: While the Financial Action Task Force (FATF) meeting in Paris is underway, chances of Pakistan’s getting out of grey list were widely bright, Bol News reported quoting sources as saying.

Today is the last of the FATF meeting in Paris. On October 21, FATF President Raja Kumar would address a press conference at the FATF headquarters in Paris at PST 8:00 pm. He would announce decisions of the forum about removal or addition of countries in the grey list.

The sources said that as per the information received so far the decision would come in Pakistan’s favour.

Earlier, Bol News reported quoting diplomatic sources as saying that the issue of the Financial Action Task Force (FATF)’s requirement 24, transparency in beneficiary ownership matter, was still unresolved.

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The sources had said the United States and some other countries wanted Pakistan to take some more solid measures to improve the international cooperation. Whereas, the government said it was serious in addressing reservations of the international community to improve cooperation, they added.

“Pakistan has taken every possible measures to improve ties with other countries. So, there is no reason to keep Pakistan in the grey list anymore,” the sources had said adding that the FATF’s first meeting under Singapore’s two-year presidency in Paris would be imperative for Pakistan.

The diplomatic sources had said T Raja Kumar would preside over the meeting, in which State Minister for Foreign Affairs Hina Rabbani Khar would lead delegation of Pakistan.

In its June session, the FATF had declared that Pakistan had successfully implemented its 34-point action plan. 27 out of 34 points were regarding financial assistance of terrorism and seven points were about money laundering.