Pakistan hopes early, successful visit by FATF team

ISLAMABAD: Pakistan hopes a successful on-site visit by a team of the Financial Action Task Force (FATF), leading to early conclusion of the process to take the country off the global watchdog’s grey list.

At its plenary meeting last week in Berlin, the Financial Action Task Force (FATF) acknowledged the completion of Pakistan’s Action Plans of 2018 and 2021 covering 34 items, especially the early completion of the 2021 Action Plan in a record timeframe.

The global financial watchdog also authorized an onsite visit to Pakistan as a final step towards Pakistan’s removal from its grey list. Minister of State Hina Rabbani Khar led Pakistan’s delegation to the FATF Plenary, and had a detailed press interaction on return.

A foreign office spokesperson said the other day the Prime Minister and the Foreign Minister welcomed the development and commended the hard work and dedicated efforts of Pakistan’s FATF team that led to the successful completion of all technical requirements of both FATF Action Plans.

“They acknowledged the concerted national efforts and complete harmony of interests by all stakeholders and reaffirmed the Government of Pakistan’s commitment to continue this positive trajectory of reforming the financial sector as part of its larger strategic objective of strengthening Pakistan’s economy.”