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FATF expresses satisfaction over implementation of Pakistan’s Action Plan

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At the meeting of the Financial Action Task Force (FATF), the member countries expressed satisfaction over the implementation of the action plan by Pakistan.

The FATF meeting begins in the French capital Paris on February 16 in which the Pakistani delegation is headed by the Federal Minister for Economic Affairs Hamad Azhar.

In the meeting of the Financial Action Task Force, the Member States expressed their satisfaction over the implementation of the action plan by Pakistan while China, Turkey, and Malaysia praised the Pakistani initiatives.

During the meeting, Pakistan apprised about the measures to prevent money laundering and the financial assistance of terrorists. The decision to exclude Pakistan from the gray list will be held on February 21, while the meeting will also consider the actions of Iran and North Korea, both of which are on the FATF blacklist.

Sources say that Pakistan has made satisfactory progress on 14 of FATF’s total 27 action plans, after which Pakistan’s risk of being blacklisted has been terminated. It should be remembered that in January 2020, the FATF technical issues meeting was held in China, where members of the Member States praised Pakistan’s efforts.

Indian media reports related to the meeting said that Pakistan’s name is likely to be removed from the Financial Action Task Force (FATF) gray list at the February meeting.