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FATF: Pakistan Will Remain on the Gray List: Sources

The FATF will hold a four-day meeting from June 21 to 25 at the Financial Action Task Force headquarters in Paris. According to sources, it is likely that Pakistan will be included in the FATF gray list.

Younis Khan, DW’s representative in France, quoted sources as saying that European countries, especially the host country France, would recommend keeping Pakistan on the gray list and the position would be taken that all The points have not been fully implemented. Other European countries will also support France’s position.

According to sources, the decision to keep Pakistan on its gray list by October 2021, as well as the steps taken by Pakistan at the FATF meeting, will be appreciated and the fight against money laundering and terrorist financing will be stopped. Pakistan’s progress will also be welcomed.

Positive Steps by Pakistan

Pakistan has so far implemented 26 points in the FATF’s 27-point action plan. Pakistani officials say the Pakistani government has not only enacted laws against money laundering and terrorism, but also enforced them. In addition to freezing the assets of banned organizations, significant steps were taken to curb the activities of their affiliates.

The government has formed a 12-member National Coordinating Committee on FATF. The committee members include heads and regulators of all agencies involved in money laundering and terrorist financing, as well as the Federal Minister of Finance and the Federal Secretary of Finance, Foreign Affairs and Home Affairs.

They include the Governor of the State Bank of Pakistan, the Chairman of the Securities and Exchange Commission of Pakistan, the Director General of the Federal Investigation Agency, a member of the Federal Board of Revenue, Customs, and the DG of the Financial Monitoring Unit (FMU).

At the same time, the FATF Secretariat has been set up for the purpose of coordination among stakeholders. The Government of Pakistan is looking forward to good news from the FATF meeting to be held from June 21 to 25.

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