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Pakistan hopes to come out of FATF's grey list by Feb 2020

Pakistan hopes to come out of FATFs grey list by Feb 2020

Islamabad: Pakistan has expressed hope that it has set target till February 2020 to complete all items on its Financial Action Task Force (FATF) action plan. Pakistan's Economic Affairs Minister Hammad Azhar said that Pakistan will come out of 'grey' to 'white' List by the given deadline.

FATF on Friday escaped by 4 months the 'Black List' tag by the FATF which said that it will remain on its grey list till February 2020.

"Pakistan has targeted to complete all items on its FATF action plan and upgrade from the grey list to the white list of FATF in 2020. A coordinated effort from all Regulators, LEAs, Federal and Provincial Govt Depts is already underway in this regards," tweeted Azhar.

The minister said that FATF had noted progress achieved by Pakistan during the last one year and especially in the last 4 months.

However, he added that more work was needed to be done as the country's action plan was perhaps the most ambitious and challenging ever handed out to any country.

Some terrorist organisations operating in Pakistan are a cause of concern for the global community. Pakistan needs to do more to counter terror financing and to address its strategic counter-terrorist financing-related deficiencies, the FATF had said.

IANS

IANS

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