FATF to Decide Pakistan Grey List Status Today

FATF to Decide Pakistan Grey List: As today\’s FATF plenary conference in the French capital comes to a close, Islamabad is anticipated to be removed from the \”enhanced monitoring list,\” also known as the \”grey list,\” of the international money-laundering watchdog.

The Financial Action Task Force\’s plenary conference will decide whether to take Pakistan off the \”grey list\” after it suffered serious financial setbacks and problems amid a deteriorating economy.

According to a release from FATF, the first Plenary under T. Raja Kumar\’s two-year Singapore Presidency will be held on October 20–21. Officials from the United Nations, World Bank, Interpol, and 206 members of the Global Network are expected to participate.

Leading the team from Pakistan is Minister of State for Foreign Affairs Hina Rabbani Khar, who met with French authorities while in Paris.

Pakistan was placed on the grey list earlier this year, but the FATF hinted that it would be taken off following a site visit to assess progress.

The FATF technical delegation visited the nation last month, and the Foreign Office said that Islamabad was anticipating a logical conclusion to the examination process.

Pakistan has met all requirements of the FATF action plan, and removal from the list will help Islamabad disclose flaws in its system for preventing money laundering and financing of terrorism.

In June 2018, Pakistan was added to the \”grey list\” due to flaws in its system to prevent money laundering and financing of terrorism.

What does it mean for Pakistan to be removed from the FATF ‘grey’ list?