FATF (Financial Action Task Force) will decide on 20 to 21 October whether to remove Pakistan from the grey list or not in Paris. FAFT will inquire further and evaluate an onsite visit to Pakistan to assess steps by the country in terms of action.
In the month of September, a 15 members team visited Pakistan. The findings, however, will be discussed in the next meeting. The outcome will let Pakistan curb more strict actions for money laundering and terror financing. FAFT has examined Pakistan’s efforts to fulfill the conditions of FAFT.
In June 2018, Pakistan was placed on the grey list for insufficiency in curbing money laundering and terror financing. A 27-point plan was put forward that equates to FAFT’s standard.
The expected exit from the grey list will strengthen back Pakistan’s stature in the international community allowing several foreign investors. The removal can also ease the financial transaction and can back the stumbling economy.
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