The FATF meeting will take place from October 17 to October 21. According to sources, Pakistan is likely to be removed from the FATF’s grey list on October 21 because it has met all of the FATF’s requirements.
In the last week of August, the FATF team visited Pakistan. After meeting with all relevant authorities, the anti-terror financing watchdog’s technical team was said to have returned satisfied with Islamabad’s actions.
According to sources, the FATF review team aimed to assess political will to implement anti-money laundering and anti-terrorism legislation.
In June 2018, FATF placed Pakistan on the grey list for deficiencies in its system to combat money laundering and terrorist financing. It was given a 27-point action plan at first, and then another 7-point plan to comply with FATF standards.
The removal of Pakistan from the FATF grey list will help to restore Pakistan’s image and give foreign investors confidence in doing business in the country. The grey-listing makes financial transactions difficult for countries and raises the cost of doing business.
