Pak to remain on FATF ‘Grey List’

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The ongoing Financial Action Task Force meeting in Paris today declared that Pakistan will be in the grey list until February 2020.

The formal announcement for the same will be made on October 18.

The Paris-based financial watchdog has warned Pakistan to take further measures in the next four months to curb terror-funding. Observing that the country has failed to prevent money laundering successfully, FATF reserved the final decision for February 2020 when it will be deciding whether or not to blacklist Pakistan.

Pakistan delegation led by its Economics Affairs Minister Hammad Azhar told the organisation that the country was meeting 20 of 27 parameters.

It claimed that the FATF was satisfied with the measures adopted by Islamabad and its progress in several sectors, reported The Dawn.

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