Pakistan likely to remain on FATF's 'grey list' until June, plenary meetings from Feb 21

Pakistan is unlikely to exit Financial Action Task Force’s (FATF’s) ‘grey list’ until June, despite country trying to seek backing from member nations before plenary meeting of global terror financing and money laundering watchdog scheduled for next week, stated media report on Wednesday. FATF’s Plenary and Working Group meetings will be taking place from February 21 to February 26 in Paris, where decision of Pakistan’s position will also be determined. Pakistan was placed in FATF’s ‘grey’ list in June 2018 and since n has been unsuccessful in implementing 27 action points essential for its re-designation.

Earlier in October 2020, officials h said that Pakistan will remain on 'grey list' till February 2021 as it remained unsuccessful in fulfilling six key obligations of global money laundering and terrorist financing watchdog that include failure to take action against two of India's most wanted terrorists Maulana Masood Azhar and Hafiz Saeed. After last FATF meeting, FATF president Marcus Pleyer said at a virtual press conference from Paris, "Pakistan remains in increased monitoring list or grey list."

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Pak FM sounded optimistic about FATF outcome

As per a report in Express Tribune newspaper, Pakistan Foreign Minister Shah Mahmood Qureshi sounded optimistic about outcome of upcoming FATF meeting but officials mitted that nation would remain on ‘grey’ list until at least June. It also ted that Islamab has been seeking support from member nations for an on-site visit. If this crucial step is agreed upon by member states, it can enhance Pakistan’s chances of getting off ‘grey’ list.

"If agreed, FATF on-site visit will help Pakistan come out of grey list by June this year," a senior Pakistani official dealing with matter was quoted by news ncy PTI citing ar report.

“Over past few days, Foreign Office has been inviting ambassors and diplomats of FATF-member countries to brief m about ‘substantive progress’ me by Pakistan to implement 27-point action plan,” report said, quoting officials familiar with development.

Financial Action Task Force or FATF is an inter-governmental organisation and was founded in 1989 on initiative of G7 countries to develop policies that are required to combat money laundering. It was in 2001 when organisation’s mandate was expanded to include terrorism financing. FATF currently has 39 members including two regional organisations European Commission and Gulf Cooperation Council. India is a member of FATF consultations and its Asia Pacific Group.

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