Pakistan ‘one step away’ from leaving anti-terror ‘FATF gray list’: report

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Foreign Minister Hina Rabbani Khar said Pakistan is sure to get off the list.

Islamabad:

Pakistan is “one step away” from leaving a “grey list” of black money after the global watchdog said a site visit could lead to the expulsion of the South Asian country, the state’s foreign minister said on Saturday .

The Financial Action Task Force (FATF) kept Pakistan on the list on Friday but said a visit to monitor progress in the fight against terrorist financing and money laundering could lead to removal from closely monitored countries. stand.

The financial crime watchdog, set up by the Group of Seven Industrial Powers to protect the global financial system, said Islamabad had largely completed its two 34-item action plans as it tries to get off the list it has been in since 2018. state.

“Pakistan is one step away from leaving the gray list, God willing,” said the minister, Hina Rabbani Khar, at a news conference in Islamabad.

The FATF said a site visit was warranted to check whether reforms had begun and were being sustained, and whether the necessary political commitment was maintained.

Khar said Islamabad will prepare the site visit for the FATF’s next plenary meeting in October, adding that the FATF will visit and inspect all measures and legislation that Pakistan has implemented on money laundering and terrorist financing. .

She said Pakistan was confident of getting off the list, which would help build confidence in its economic framework.

Exiting the gray list could increase foreign inflows, especially portfolio and direct investments, Saad Hashemy, executive director at BMA Capital Securities, told Reuters.

“We have not only made it to the timeline. We have outperformed the timeline,” said the minister. “I have every confidence that if we stay on the same path, we will get out of it and never go back on this path again.”

(This story was not edited by NDTV staff and was generated automatically from a syndicated feed.)



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