According to the sources within the finance ministry, a FATF Plenary meeting is going to take place in Paris next week by 20th of the October.
It is the first FATF Plenary to be held under the two-year Singapore Presidency of T. Raja Kumar. Pakistan is likely to exit 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.
According to sources, In the light of FATF’s plan, the trade in gold and properties has been made documented.
After the meeting, Raja Kumar, the FATF president will address a news conference in which announcement to remove Pakistan from its infamous grey list, the sources said.
In a statement, earlier this year, the Financial Action Task Force (FATF) acknowledged that Pakistan has “substantially completed its two action plans”, saying that the watchdog will now schedule an on-site visit to verify the implementation of the measures.
However, Pakistan has not been formally removed from the FATF’s grey list. In a statement, the watchdog acknowledged that Pakistan has completed both its action plans, covering 34 items, and said this showed the necessary political commitment was in place to sustain implementation and improvement in the future.