The Financial Action Task Force (FATF) announced that it has removed Pakistan from the list of countries under “increased monitoring” — also known as the “grey List”. Since June 2018, Pakistan has been on the FATF’s grey list for “shortcomings in its counter-terrorist funding and anti-money laundering regimes”.
The FATF chief, Raja Kumar, at the end of Paris summit said it strengthens Pakistan’s reputation internationally.
“Pakistan has strengthened the effectiveness of its AML/CFT (anti-money laundering and counter-terrorist financing) regime and addressed technical deficiencies to meet the commitments of its action plans regarding strategic deficiencies that the FATF identified in June 2018 and June 2021, the latter of which was completed in advance of the deadlines, encompassing 34 action items in total,” he stated.
He added a team of International Watch visited Pakistan, and they are satisfied with Pakistan’s deeds regarding the money- laundering and support of terrorism.
Being in ‘grey list’had blocked Pakistan of gaining loan from International Monetary Fund and World Bank.
Prime minister of Pakistan welcoming the act added that it shows Pakistani officials determination and toil in past years.
The news comes as still people accuse Pakistan of supporting terrorism.