Pakistan has been removed from the Financial Action Task Force’s (FATF) “grey list” after four years.
The decision was made in Paris during a meeting of the Financial Action Task Force (FATF), a global organization that monitors money laundering and the financing of terrorism.
Also Read : Pakistan is going to exist the FATF Grey List Today
Due to shortcomings in its legal, financial, regulatory, investigations, prosecution, judicial, and non-government sectors to combat money laundering and combat terror financing, Pakistan was added to the list of jurisdictions subject to increased monitoring in June 2018 and was deemed a serious threat to the global financial system.
According to experts, Pakistan exited the FATF’s grey list after a period of four years as it has successfully complied with the 34-points action plan related to terror financing and money laundering.
Apart from Pakistan, FATF would also be announcing its verdict on North Korea, Turkey, and Iran.
Remember that Pakistan’s four-year process under different governments to confront terrorism financing had cleared all requirements and conditions except for one related to demonstrating investigations and prosecutions against senior leaders of the UN-designated militant groups, which it finally completed.
Important for Pakistan, which had relentlessly been fighting terrorism on the home ground through military operations, exiting the grey list would send a loud and clear message worldwide that Pakistan had through reforms and put an end to terror financing as well.
