Pakistan may remain on FATF grey list until June
Mar 04, 2022
Islamabad [Pakistan], March 4 : Pakistan is expected to remain on the grey list of the Financial Action Task Force (FATF) for another four months, until June 2022, local media reported on Friday.
Continuation on the FATF's "grey" list means that Pakistan will not get any respite from difficulties in trying to access financial help in the form of investments and aid from the International Monetary Fund (IMF), World Bank, Asian Development Bank (ADB) and the European Union.
According to The News International, the concluding session of the plenary meeting of the FATF, a Paris-based global money laundering and terrorist financing watchdog, is due on Friday (today).
Islamabad is now targeting the full completion of the 2021 action plan on anti-money laundering and combating terror financing (AML/CFT) by the end of January 2023.
While Pakistan is eye washing FATF- global anti-money laundering watchdog by making claims of fulfilling compliance at a time when the country continues to remain an epicentre of terrorism and other criminal activities, reported a Canada-based thinktank, International Forum for Rights and Security (IFFRAS).
Pakistan is desperately wanting to move out of the FATF Grey List as it would relax the international financial aid and investment channels for the country.
Islamabad is putting up various 'actions' to showcase the pro-active attitude of the Imran Khan-led government in rescuing Pakistan, from falling into the Black List.
Echoes of "Terrorist Terrorist! Pakistan Pakistan!" have also resounded outside the office of Financial Action Task Force (FATF) in France on Saturday as exiled Afghan, Uyghur and Hong Kong communities living in Paris organized a protest urging the watchdog to blacklist Pakistan.
Pakistan was on FATF's Grey List between 2012 and 2015 as well. On February 27, 2015, during the FATF meeting in Paris, Pakistan's name was put into the category of "Jurisdictions no longer subject to the FATF's On-Going AML/CFT Compliance Process," reported the thinktank.
In June 2015, India strongly raised the issue of non-compliance by Islamabad on freezing assets of LeT and its affiliates. Later, in June 2018, when Pakistan was put on the Grey List, it made a high-level political commitment to work with FATF and the Asia Pacific Group (APG).
