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Paris: The Financial Action Task Force (FATF) will hold its plenary and working group meetings in Paris from today, to decide whether Pakistan stays in or out of the 'grey list' it is currently placed on.
The FATF will review Pakistan’s performance on the implementation of the global illicit financing watchdog’s 27 action points to curb terror financing and money laundering.
According to the details, FATF has expressed satisfaction on the measures taken by Pakistan regarding money laundering and combating financing of banned organizations.
The final meeting of FATF will decide whether to clear Pakistan out of the FATF grey list or to move it into the black list.
A Pakistani delegation, led by Federal Minister Hammad Azhar, will attend the meeting with Financial Action Task Force (FATF).
Experts are of the view that Pakistan is expected to exit the grey list soon after winning a “largely-compliant” rating from the FATF, or might get more time from the watchdog for attaining full compliance.
Pakistan will be judged by the FATF plenary meetings on the basis of the Joint Group’s report, concluded last month, for a possible exit from the ‘grey list’ or at least avoiding an entry into the black list.
In October 2019, Financial Action Task Force (FATF) announced to keep Pakistan on its grey-list till Februray 2020, after expressing satisfaction over the compliance report submitted by Pakistan.
While addressing a press conference, FATF president said that the task force directed Pakistan to take more measures for complete elimination of terror financing and money laundering.
An FATF meeting in Paris decided to review the measures taken by the country again in February 2020.
SOURCE: http://gnnhd.tv/index.php/Business/14003-1581793200