FATF’s expresses satisfaction over Pakistan’s report

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Our Correspondent

Beijing

The Financial Action Task Force’s (FATF) Working Group has expressed satisfaction while reviewing Pakistan’s performance report from October 2019 till January 2020 in compliance with the global illicit financing watchdog’s action plan carrying 27 recommendations about the country’s anti-money laundering and combating financing of terrorism (AML/CFT) mechanism. The Pakistani delegation led by the Minister for Economic Affairs Hammad Azhar presented the report in a meeting with the Working Group in Beijing, and explained measures taken and progress made by the country in stopping funding of terrorists and eradication of money laundering since October last year.
Pakistan will be judged by an FATF plenary meeting in February on the basis of the Joint Group’s report for a possible exit from the ‘grey list’ or at least avoiding an entry into the black list.The group also reviewed answers given by Pakistan in a 650-page report to the global financial watchdog, and it will be considered by the body’s meeting starting from Feb. 16 in Paris.