Featured

FATF acknowledges completion of Pakistan’s Action Plans & authorizes an on-site visit, as a final step to exit from FATF’s grey list

ISLAMABAD, June 17 (SABAH): The Financial Action Task Force (FATF) reviewed Pakistan’s progress on FATF Action Plans in its Plenary meetings held in Berlin on 13-17 June 2022.

According to a statement issued by Foreign Office Spokesperson Asim Iftikhar Ahmad on Friday, FATF has acknowledged the completion of Pakistan’s both Action Plans (2018 and 2021) and has authorized an onsite visit to Pakistan, as a final step to exit from the FATF’s grey list.

The FATF members while participating in the discussion on Pakistan’s progress, congratulated Pakistan for completing both Action Plans covering 34 items, and especially on the early completion of the 2021 Action Plan in a record timeframe. Pakistan continued its relentless efforts towards successful completion of these Action Plans despite many challenges including the COVID 19 pandemic.

Pakistan has covered a lot of ground in the AML/CFT domain during implementation of FATF Action Plans. The engagement with FATF has led to the development of a strong AML/CFT framework in Pakistan and resulted in improving of our systems to cope with future challenges.

The Pakistan delegation, which attended FATF Plenary meetings in Berlin, was led by Ms. Hina Rabbani Khar, Minister of State for Foreign Affairs / Chairperson National FATF Coordination Committee.

Meanwhile Minister for State for Foreign Affairs Ms. Hina Rabbani Khar in a statement issued on twitter on Friday said “Congrats Pak! FATF declares both Action Plans complete. Intl community has unanimously ack our efforts. Our success is the result of 4 yrs of challenging journey. Pak reaffirms resolve to continue the momentum and give our economy a boost. Well done Pak Team FATF. Pak Zindabad!”.

Earlier on Friday Hina Rabbani Khar said pre-judging the outcome of FATF plenary meeting and speculative reporting in this regard should be avoided.

She said the FATF Plenary meetings are continuing in Berlin, Germany and FATF will issue a Public Statement after conclusion of the meetings tonight.

The Minister of State said a media briefing will also be held at Ministry of Foreign Affairs, Islamabad tomorrow morning on the issue.