FATF Retains Pakistan On Grey List, Asks It To Swiftly Complete Implementation Of 27-Point Action Plan By June 2021

The global terror-financing watchdog Financial Action Task Force (FATF) has decided to retain the Islamic Republic of Pakistan on its grey list which is also called, "increased monitoring list", reports Times of India.

Paris-based FATF acknowledged Pakistan's "significant progress" on the 27 point action plan which it had committed to for curbing money laundering and terrorist financing and noted that it had largely addressed 24 of the 27 action items.

FATF urged the Islamic Republic to swiftly complete the implementation of the action plan before June 2021, stressing that all the action plan deadlines had already expired.

It should be noted that one of the three issues which remain unaddressed by Pakistan relates to the targeted financial sanctions against all 1,267 and 1,373 designated terrorists. This gains significance as India has maintained that Pakistan has continued to provide safe haven to the United Nations Security Council (UNSC) proscribed terrorists like Hafiz Saeed and Masood Azhar.

The anti-terror financing watchdog has reportedly decided to not go for an onsite evaluation at this stage.