Pakistan might soon get off FATF’s grey list, sources say

According to the sources, China, USA., UK, Australia, New Zealand, Japan, among others, didn't make any adverse remark on Pakistan’s action plan.

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FATF removes Pakistan

Pakistan has satisfied the Financial Action Task Force with diplomatic sources. The FATF, in its 3-day review meeting in Beijing, evaluated Pakistan’s compliance efforts against concealment and terror financing.

According to the sources, China, USA., UK, Australia, New Zealand, Japan, among others, didn’t make any adverse remark on Pakistan’s action plan. The FATF statement may be a significant let-off for Pakistan, which last October taken to suits its recommendations by February.

A source said that “America needs Pakistan to help it in Afghanistan because it tries to expedite an affect Taliban, also as in its initiatives to counter Iran, both neighbors of Pakistan. They seem to possess shaped Washington’s decision to travel crazy Pakistan’s compliance on FATF strictures before Donald Trump’s re-election”.

The delegation from Islamabad convinced FATF members that it might speedily complete the action decide to check fund flows to terrorist groups.

The official added, Pakistan remains within the grey list, but chances of blacklisting looked unlikely now. Currently, Iran and North Korea are on the blacklist of FATF.

Also Review: Foreign Companies Profit Repatriation Rises By 18% In Pakistan

Pakistan is on the grey list since June 2018 and given an idea of action to be completed by October 2019, or face the danger of being blacklisted. Pakistan lobbied hard with the US as its presence within the grey list had adversely impacted its drowning economy.

Foreign minister Shah Mahmood Qureshi was in Washington last week, persuading the US to remove it from the FATF grey list.

US deputy assistant secretary of state Alice Wells visited Islamabad in the week and lauded Pakistan’s efforts to suits FATF guidelines. PM Imran Khan’s trip to Davos and meeting with the US President, too, gave hope to Pakistan. China also came to its rescue. Beijing stated on Thursday that Pakistan made “visible progress” to strengthen.

The Chinese official said, “We hope FATF will still offer constructive support and assistance to Pakistan in its continued efforts to enhance the counter-terrorism financing system and effectively fight terrorist financing.” Pakistan’s partners Turkey and Malaysia, tacitly backed by FATF chair China, provided three important votes to avoid blacklisting year’s FATF eventually meets.

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