The Financial Action Task Force (FATF) announced its decision today , Pakistan will remain on its grey list, acknowledges that it has fulfilled 21 out of 27 requirements.
The FATF plenary took up Pakistan’s case today, the last day of its ongoing meeting between October 21 and 23.
The plenary, which was earlier scheduled in June but got postponed due to the COVID-19 pandemic, decided Pakistan’s fate to keep the country on the grey list for another extended period.
In February 2020, the FATF plenary granted Pakistan a grace period of four months to complete its 27-point action plan against money-laundering and terror financing (ML&TF) after it noted that the country was compliant on 14 points.
Pakistan was placed on the grey list in June 2018.
Pakistani authorities are hopeful of a positive outcome after the country enacted at least 15 pieces of legislation, many of them through a joint sitting of Parliament, to fulfil the requirements set by the international watchdog.
