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Pakistan will continue to remain on FATF Grey List
Pakistan will continue to remain on the Grey List of the Financial Action Task Force (FATF). The Paris-based body has asked the country to demonstrate effective implementation of targeted financial sanctions against all 1267 and 1373 designated terrorists. The decision came at the conclusion of the virtual FATF plenary held in Paris from February 22 to 25 to consider cases of various countries on the grey list, including Pakistan.Â
FATFÂ had placed Pakistan on the grey list in June 2018 and asked Islamabad to implement a plan of action to curb money laundering and terror financing by the end of 2019 but the deadline was extended later on due to the COVID-19 pandemic.
UPDATED: February 22, 2021 04:46 IST
Pakistan PM Imran Khan. The Paris-based Financial Action Task Force had placed Pakistan on the grey list in June 2018 (File photo)
Pakistan is unlikely to exit the grey list’ of the FATF as some European countries have taken the stand that Islamabad has not fully implemented all the points of a plan of action set by it, a media report said on Sunday, on the eve of the plenary meeting of the global watchdog for money laundering and terror financing.
The Paris-based Financial Action Task Force had placed Pakistan on the grey list in June 2018 and asked Islamabad to implement a plan of action to curb money laundering and terror financing by the end of 2019 but the deadline was extended later on due to COVID-19 pandemic.