Why Pakistan is not in FATF?

Latest Updates – Pakistan and its Listing As of last week, Pakistan has been retained on the FATF’s ‘grey list’ due to failing to effectively implement the global FATF standards and over its lack of progress on investigation and prosecution of senior leaders and commanders of UN-designated terror groups.

Is Pakistan should be in GREY list?

FATF President had said Pakistan will remain on the grey list till it addresses all items on the original action plan agreed to in June 2018 as well as all items on a parallel action plan handed out by the watchdog’s regional partner – the Asia Pacific Group (APG) – in 2019.

Does FATF influence Pakistan economy?

As a result of being on the FATF grey list, the total loss to Pakistan’s economy is estimated at US$38 billion ($50.6 billion), according to a paper titled “Bearing the Cost of Global Politics – The Impact of FATF Grey-Listing on Pakistan’s Economy”.

When will Pakistan’s FATF action plan be completed?

In a statement issued after the plenary session concluded, the financial watchdog said: “To date, Pakistan has made progress across all action plan items and has now largely addressed 21 of the 27 action items. As all action plan deadlines have expired, the FATF strongly urges Pakistan to swiftly complete its full action plan by February 2021.”

What does FATF grey list mean for Pakistan?

Pakistani officials were hopeful of a positive outcome, especially after the recent legislation by parliament on counter-terror financing and money laundering. The FATF places those countries on its grey list which are not taking measures to combat terror funding and money laundering.

Do Pakistan and Saudi Arabia have fraternal ties?

“Pakistan and Saudi Arabia enjoy strong fraternal ties and the two countries have always cooperated with each other on all matters of bilateral, regional and international importance,” FO spokesman Zahid Hafeez Chaudhri had said.

Is Pakistan’s 27-point action plan for anti-money laundering making progress?

The global watchdog reviewed Pakistan’s progress on the 27-point action plan for addressing anti-money laundering and terror financing in its plenary session that started on October 21.