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Saturday, 19 October, 2019 I 19 Safar-ul-Muzaffar, 1441 I Rs 19.00 I Vol X No 109 I 16 Pages I Islamabad Edition
PakisTan To remain on FaTF grey lisT Till Feb 2020 PARIS
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he Financial Action Task Force (FATF) on Friday formally announced that Pakistan will remain on its grey list till February 2020. As the FATF week concluded in Paris, the task force directed Islamabad to take more measures for the complete elimination of terror financing and money laundering. The body acknowledged recent improvements but also expressed serious concerns over the “lack of progress” by Pakistan to address “terror financing risks”. A watchdog meeting in the French capital decided to review the measures taken by the
country again in February 2020. “The FATF strongly urges Pakistan to swiftly complete its full action plan by February 2020,” it said in a statement. “Otherwise, should significant and sustainable progress not be made across the full range of its action plan by the next Plenary, the FATF will take action.” “Since June 2018, when Pakistan made a high-level political commitment to work with the FATF and the Asia-Pacific Group (APG) to strengthen its anti-money laundering (AML) and counter-terror financing (CTF) regime and to address its strategic counter-terrorist financing-related deficiencies, Pakistan has made progress towards improving its AML/CFT regime, including the recent development of its money
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laundering/terror financing risk assessment,” read the statement. Pakistan, which accuses India of lobbying to blacklist it, relied for support on friends including China, as well as Turkey and Malaysia who batted for Pakistan during the meeting. Reuters had earlier reported that in a recent visit to Beijing, Prime Minister Imran Khan secured a guarantee from China that Pakistan would not be placed on the blacklist. In its response to the development, the Pakistan finance ministry said in a statement that Pakistan’s delegation at the FATF reaffirmed its political commitment to fully implement the action plan. “The plenary meeting decided to maintain status quo on the FATF action plan.”
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watchdog SayS PaKiStan haS made high-level Political commitment to worK with FatF and aPg to Strengthen antimoney laUndering aml and coUnter-terror Financing regime Finance miniStry SayS PaKiStan delegation inFormed FatF aboUt itS Political commitment to FUlly imPlement action Plan