Pakistan to remain on FATF grey list

Paris: After holding its five-day plenary meeting, the Financial Action Task Force (FATF) announced on Friday that Pakistan will continue to remain on the watchdog's "increased monitoring list", which is known as the grey list.

According to FATF President Dr Marcus Pleyer, "Pakistan has made significant progress and it has largely addressed 26 out of 27 measures", adding "that the action plan on financial terrorism still needed to be addressed" Dawn reported.

"In 2019, the regional partner of FATF identified problems in Pakistan's anti-money laundering measures, which according to it has made some improvement. However, there remains the risk of money laundering and subsequently FATF had discussions with Pakistan in this regard.

Mr Pleyer said all action plan items needed to be addressed and goals fulfilled for countries to exit the grey list.

A few days ago Pakistan Foreign Minister Shah Mahmood Qureshi said that given the country's recent progress, the financial watchdog had no justification to keep the country on its grey list. (UNI)