Mohammad Arshad Islamabad
The Financial Action Task Force is going to evaluate Pakistan’s performance on the given points today (Monday).
In this regard, a virtual meeting of FATF’s plenary will be held to review Pakistan’s Post Observation Period Report (POPR).
FATF’s Asia-Pacific Joint Group will compile a report on Pakistan’s assessment and then FATF would decide the future course of action.
Well placed sources at Finance Division, Sunday, told Pakistan Observer that FATF’s plenary virtual meeting would continue deliberations from four next days and on June 25 would issue final report on Pakistan’s and other agenda items.
told Pakistan Observer that FATF’s plenary virtual meeting would continue deliberations from four next days and on June 25 would issue final report on Pakistan’s and other agenda items.
FATF’s plenary meeting of international cooperative review group includes China, France, India, US and UK.
Source briefed that FATF would work through a full agenda. Delegates will discuss the assessment of measures to combat money laundering and terrorist financing.
They will discuss the impact of Covid-19 on the assessments that remain to be completed in the current cycle and hear the progress made by some jurisdictions identified as presenting a risk to the financial system.
The FATF will also finalise key reports, including a guidance on the risk-based approach to supervision. The outcomes of the FATF Plenary will be published, at the close of the meeting.
Source said that the FATF’s plenary year began in July and ends in June. During a plenary year, the FATF holds three plenary meetings, a meeting of experts on typologies, and, depending on the focus of current work, inter-sessional meetings and meetings of various ad hoc groups.
