Good news for nation as FATF removes Pakistan from Grey List
The Financial Action Task Force (FATF) on Friday removed Pakistan from the ‘increased monitoring list’ also known as the grey list, after reviewing Islamabad’s performance on action plans.
In a press conference, FATF President T Rajakumar said that Pakistan had been on the grey list since 2018 and after hard work by the authorities, it had implemented 34 points to overcome weaknesses in money laundering and counter-terrorist financing.
He added that, “FATF welcomes Pakistan for this development.”
“Pakistan is now effectively dealing with money laundering and terrorist financing, the FATF team confirmed that reforms have been made and that Pakistan has competence and commitment to continue reforms,” Rajakumar said.
He furthered that these reforms are good for the stability and security of the country and the region, adding that, but it does not mean that they do not need to do more.
“We hope that Pakistan will continue to cooperate with FATF’s regional partner Asia Pacific Group to further strengthen the system,” Rajkumar hoped.
In June 2022, FATF found Pakistan to comply with all 34 points and decided to send its team on a visit to verify the same before officially announcing the removal of Pakistan’s name from the grey list.
In terms of technical compliance with the standards set by FATF, the Asia-Pacific Group in August this year considered Pakistan as a country in compliance or largely compliant with 38 out of 40 FATF recommendations due to which Pakistan became the top among the countries following these suggestions.
Taking to twitter, Foreign Minister Bilawal Bhutto-Zardari announced the good news for the people of Pakistan.
He wrote: “Congratulations to the people of Pakistan. Pakistan has officially been removed from the FATF ‘grey list’. Pakistan Zindabad.”
PM Shehbaz congratulates nation
Taking to twitter, Prime Minister Shehbaz Sharif congratulated nation, civil leadership and military leadership over Pakistan’s removal from FATF grey list.
He wrote: “Pakistan exiting the FATF grey list is a vindication of our determined and sustained efforts over the years. I would like to congratulate our civil & military leadership as well as all institutions whose hard work led to today’s success.”
In another tweet PM Shehbaz admired the efforts of Foreign Minister Bilawal Bhutto-Zardari and the Chief of Army Staff (COAS) Gen Qamar Javed Bajwa for putting up a united front to get Pakistan out of the FATF’s grey list.