FATF Keeps Pakistan On Its Grey List

The Financial Action Task Force (FATF) on Friday announced to keep Pakistan on its 'grey list' until mid of 2021, after finding that Pakistan has successfully complied with 21 out of 27 action-items

ISLAMABAD, (UrduPoint / Pakistan Point News - 23rd Oct, 2020 ) :The Financial Action Task Force (FATF) on Friday announced to keep Pakistan on its 'grey list' until mid of 2021, after finding that Pakistan has successfully complied with 21 out of 27 action-items.

The announcement was made by the President of FATF Marcus Pleyer at a virtual press conference held after the body's three-day plenary session that ended today (Friday).

Meanwhile Minister for Industries Hammad Azhar hailed the watchdog's decision saying "Pakistan has achieved impressive progress on its FATF action plan as 21 out of 27 action items now stand cleared while remaining six are rated as partially complete".

"Within a year, we progressed from 5/27 to 21/27 completed items. FATF acknowledged that any blacklisting is off the table now", he said in a tweet.

Hammad said instead of current action plan, discussions remained focused on how Pakistan could be facilitated for the upcoming second evaluation (MER), due mid next year.

"I congratulate our Federal and provincial teams who have worked day and night even during the pandemic to ensure this turn-around", he added.