Pakistan May Take Out off FATF Grey List

Pakistan May Take Out off FATF Grey List

• Pakistan is likely to exit the grey list of the Financial Action Task Force (FATF) after it was placed in the infamous category since 2018 for failing to check money laundering and terrorist financing, a media report said.
• With Pakistan’s continuation on the grey list, it had increasingly become difficult for Islamabad to get financial aid from the IMF, the World Bank, the Asian Development Bank (ADB) and the European Union, thus further enhancing problems for the cash-strapped country.
• A 15-member joint delegation of the FATF and its Sydney-based regional affiliate — Asia Pacific Group— paid an onsite visit to Pakistan from August 29 to September 2 to verify the country’s compliance with the 34-point action plan committed with the FATF.

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Published date : 20 Oct 2022 06:00PM