Pakistan expected to exit FATF grey list this week
The Financial Action Task Force (FATF) meeting will be held in Paris from October 20 in which Pakistan is likely to exit its grey list.
The Financial Action Task Force (FATF) meeting will be held in Paris from October 20 in which Pakistan is likely to exit its grey list.
Pakistan has met all targets set by the FATF and its subsidiary Asia Pacific Group (APG) to get out of the grey list. Along with the FATF, Pakistan has achieved targets given by the United Nations (UN).
Pakistan banned 47 parties blacklisted by the United Nations (UN). According to the UN list, proscribed parties and officials were banned. Moreover, legislation was also completed to eliminate money laundering.
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Under Non-financial Business Persons (NFBP), the access of the banned outfits was blocked to the businesses of goldsmiths, property dealers, auditors and accountants. On the condition of the FATF, gold, jewellery and property transactions were documented.
The entire Pakistan nation is awaiting the news conference of FATF President T Raja Kumar’s news conference on October 21, in which it will announce the removal of Pakistan from the FATF grey list.
