Pakistan will hopefully exit the grey list after four years of scrutiny on terror financing. A two-day Financial Action Task Force meeting began in Paris today.
The Financial Action Task Force, FATF, aims to develop policies to combat money laundering and financing terrorism.
Minister of State for Foreign Affairs Hina Rabbani Khar will represent the Pakistani delegation at the meeting. Apart from other issues, the removal of Pakistan’s name from the gray list will be reviewed in the meeting.
In the year 2018, Pakistan was listed on the FATF’s grey list. An action plan was given to the country where it was obliged to implement 27 points. Later, Pakistan was given 13 more points for implementation.
By the report of a delegation that visited Pakistan to review the implementation of 40 points given to them, Pakistan is hopeful to recover its name from the list.
The Financial Action Task Force meeting is attended by delegations from 206 organizations, including officials from Interpol, the IMF, and the World Bank.
The meeting will also look into preventing money laundering of illicit funds through fake companies and other methods and guide in this regard.