Pakistan will furnish compliance report before the international financial body to convince its members to get out of grey list to avoid from possible entry into blacklist, the sources say.
PARIS: (Urdu Point/Pakistan Point News-Jan 15th, 2020) Financial Action Task Force’s (FATF) working group would meet on January 20 and January 21 in Beijing—the capital of China, the sources said here on Wednesday.
They said Pakistan ad speeded up diplomatic efforts as part of its preparation ahead of meeting in Beijing to get out of grey list. FATF, they said, would judge Pakistan on the basis of the joint group’s report for its possible exit from the grey list or avoiding the entry into the blacklist. The sources said Federal Minister for Economic Affairs Hammad Azhar himself was monitoring the contacts with FATF members states.
An 18-member delegation of Pakistan would present Pakistan’s performance report from Oct 2019 till January 2020 in compliance with the FATF Action Plan’s 27 recommendations regarding Anti-Money Laundering (AML) and countering the financing of terrorisms (CFT) system during meeting in Beijing.
A lengthy 650-page report has already been submitted to the global financial watchdog which will be considered by the body during its next meeting starting from February, 2020 in Paris. Pakistan would make its way out of grey list with the voting in its favour in the body of the international body.
Pakistan was directed by FATF to take steps to end money laundering and alleged terror financing to get out of grey list.
