ISLAMABAD:The Financial Action Task Force (FATF) on Friday while acknowledging the completion of Pakistan’s both Action Plans (2018 and 2021), has authorized an on-site visit to the country, as a final step to exit from its grey list.
The task force reviewed Pakistan’s progress on the FATF Action Plans in its plenary meetings held in Berlin on June 13-17.
The FATF members while participating in the discussion on Pakistan’s progress, congratulated Pakistan for completing both Action Plans covering 34 items, and especially on the early completion of the 2021 Action Plan in a record timeframe.
Pakistan continued its relentless efforts towards successful completion of the Action Plans despite many challenges, including the COVID 19 pandemic, a press release issued here by the Ministry of Foreign Affairs said.
Pakistan has covered a lot of ground in the Ant- Money Laundering/Combating the Financing of Terrorism (AML/CFT) domain during implementation of FATF Action Plans.
The engagement with FATF has led to the development of a strong AML/CFT framework in Pakistan and resulted in improving the country’s systems to cope with future challenges.
The Pakistan delegation, which attended FATF Plenary meetings in Berlin, was led by Ms Hina Rabbani Khar, Minister of State for Foreign Affairs / Chairperson National FATF Coordination Committee.
Meanwhile, Hina Rabbani Khar in a twitter post congratulated Pakistan by saying that FATF had declared both Action Plans complete. She said the international community had unanimously acknowledged the country’s efforts.
“Our success is the result of 4 years of challenging journey. Pakistan reaffirms resolve to continue the momentum and give our economy a boost,” Ms. Khar added.