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Two-Day FATF Session To Determine Pakistan’s Compliance With Anti-Terror Norms Begins In Paris
Hafiz Saeed (ARIF ALI/AFP/Getty Images)
Pakistani delegation, headed by Economic Affairs Minister Hammad Azhar, has reached Paris to attend a crucial two-day session of the Financial Action Task Force (FATF) set to commence on Monday (14 October).
According to sources, the FATF meeting would discuss a report on the steps taken by Pakistan till April 2019 and a decision would be made based on Pakistan’s performance on key parameters.
Last week, the Asia/Pacific Group on Money Laundering (APG) published its long-awaited 228-page report, titled "Mutual Evaluation Report 2019", which showed that Pakistan had fully complied with only one parameter, largely complied with nine, and partially complied with 26 of the 40 parameters.
The FATF review had placed Pakistan into grey list in June 2018 and had given 27 action plans till September 2019 to comply for coming out from the grey list.
This upcoming review of the FATF meeting in Paris will now decide the fate of the country with three possibilities -- excluding it from grey and put into green list, continuing it into grey list with extended period of nine to 12 months and thirdly in worst-case scenario putting the country into blacklist, having dire consequences for the country's economy.
(With IANS inputs)
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